News
President ready to exempt school supplies, health equipment, medicine, etc., from VAT
By Saman Indrajith
President Ranil Wickremesinghe yesterday told Parliament that the government was planning to exempt items such as books, school equipment, health equipment, and medicine from VAT.
Making a special statement in the House, the President said: “By 2022, the country was slated to repay approximately US$6 billion in foreign debt annually, amounting to about 9.5% of the GDP, a considerable strain for any nation. Through successful negotiations for debt restructuring, we aim to alleviate this burden by reducing the annual foreign debt payments to 4.5% of the GDP, a substantial halving of the previous percentage.
“If the current trend of economic growth, as observed in 2022 and 2023, persists, we can anticipate maintaining a high percentage of state income. In such a scenario, servicing the debt would no longer pose a burden on the country. Currently, we have managed to elevate state revenue to nearly 11% of the Gross Domestic Product (GDP). This increase necessitated the imposition of Value Added Tax.
“Undoubtedly, this decision was a bitter and challenging one. We made the decision to implement such a tax with great reluctance. However, considering the economic ailment we face, there are no other viable options. We must endure this temporary pain for the greater good. The implementation of VAT has bolstered the government’s revenue, demonstrating to the international community our capacity to repay the debt. With the increase in government revenues and the revival of the economy, the rupee has strengthened. The strengthening of the rupee has led to a decrease in the prices of imported goods, including fuel. As a result, all VAT-paying companies are now reaping the benefits of the stronger rupee, which extends to the entire country. Furthermore, we anticipate additional benefits in the future.”
“The impact of this economic progress is evident throughout society today. How many individuals embark on pilgrimages to Anuradhapura and Sripada from hand tractors to large buses? How many undertake journeys to Talawila and Madu Church for religious purposes? How many indulge in leisurely trips to Nuwara Eliya? How many individuals park their cars on the side of the road, open their trunks, and initiate small businesses due to their inability to repay the loans they obtained? And are they now experiencing a sense of freedom? How challenging is it to secure a seat on a long-distance coach? How many travellers fill the unreserved compartments? How many tourists explore every corner of the country?
“A nation that once struggled to leave their homes is now traversing freely. Previously, they couldn’t afford to put a drop of oil in their car to rush a sick person to the hospital or accompany a deceased loved one to the cemetery. People faced challenges such as not having gas for cooking at home, leading many to prepare meals outdoors. A nation that, when a child fell ill, would go from house to house in the middle of the night searching for a Paracetamol pill,” he said.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
