State FM: Treasury needs to increase revenue by Rs 400 bn

The Finance Ministry yesterday (04) quoted State Minister Ranjith Siyambalapitiya as having said that the Treasury faced the daunting task of increasing the revenue by Rs 400 bn.

Siyambalapitiya said that both the government and the Opposition had acknowledged the urgent need to enhance revenue. The Minister said that their efforts to save foreign exchange by restricting imports had been quite successful and that the government had been able to reduce imports by 25 percent, in July this year, when compared with figures for the same month in the previous year.