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Attractive relief package in Tuesday’s Budget
Economic woes notwithstanding, the United National Front (UNF) Government will offer an attractive relief package in the 2019 Budget – the last before the Presidential election.
Such a package will include an allowance for public sector employees, incentives to attract foreign remittance to Sri Lanka, reduction on tariffs on exports, tax concessions on equipment needed in the fisheries industry and agriculture and loans to improve entrepreneurship.
Another Budget highlight would be plans to retain the labour force in view of the increase in the aging population in the country and to encourage women to work, State Finance Minister Eran Wickremaratne told the Sunday Times.
The Budget for 2019 will be presented to Parliament by Finance Minister Mangala Samaraweera on Tuesday.
Those remitting money to Sri Lanka will be entitled to extra benefits.This is in a bid to encourage them remit more money to the country.
The state minister said public sector employees would also be entitled to an allowance, with the implementation of the recommendations made by the Salaries Commission appointed by President Maithripala Sirisena. The duty free vehicle permits would be revived in two months.
Liquor and cigarette taxes are set to increase, while taxes on certain vehicles are also likely to be revised.
Mr. Wickremaratne said that, to ensure that more women remaine in the work force, restrictions on women working on night shifts would be relaxed, while providing more opportunities for women to rejoin the work force.
Pointed out that the women work force had dropped from 46 percent to 36 percent from 2006 to 2018., the state minister said another measure to encourage women to join the work force would be the setting up of daycare centers at work places where they could keep their children during work.
Loan schemes for programmes to improve skills in vocations including those travelling for overseas employment would be also among the proposals, he said.
Changes in the fertizler subsidiary scheme for tea, rubber and coconut would be introduced by offering incentives to increase production, he added.
Setting up cool-storage facilities would be encouraged to preserve the harvest of agricultural products, the state minister said..