Finance Ministry kick-starts 2014 budget preparation
View(s):The Finance Ministry has kick-started the 2014 budget preparation process inviting the public to make their proposals and suggestions on further consolidation of development work, improve public service and create a poverty-free Sri Lanka, while strictly adhering to cut down on unnecessary expenditure in state institutions, officials said.
Treasury Secretary Dr. P.B. Jayasundara has issued a circular to heads of state institutions, instructing them to cut unnecessary expenditure and overheads including bills for electricity, water, telephone, transport, etc as well as overtime and additional payments for public sector employees in the next four months.
The pruning of state expenditure including the restriction on presenting supplementary estimates in parliament by ministries comes in the wake of the government missing the revenue target by Rs. 51.5 billion or 14 per cent and over shooting of expenditure by Rs.16 billion or 2.5 per cent up to April this year.
The original revenue target by April as per Budget 2013 was Rs. 365.2 billion.
According to the Finance Ministry Mid-Year Fiscal Position Report total revenue for the first four months of 2013 was Rs. 314 billion, down by 4 per cent or Rs. 12.6 billion compared to the corresponding period last year.
The expenditure for January-April 2013 was Rs. 658.4 billion, up by Rs.16.3 billion or 2.5 per cent from the first four months target for 2013. It was also higher by Rs. 44 billion or 7 per cent during the first four months of 2012.
The consultation meetings chaired by the president commenced on Friday August 2 with trade union representatives and the Business Times reliably learns that they have suggested increasing salaries of the public and private sector employees, reducing the prices of essential commodities and providing assistance for local industrialists through the 2014 budget.
The public, professionals, academia, artists trade chambers , NGO’s civil organizations and the media especially journalists will also be invited to submit their proposals and suggestions before September 16 and also indicate any failures in projects and ways of correcting these, aimed at ensuring the 2014 budget will facilitate speedy development in the country, Finance Ministry officials said.
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