Confusion over budget amendments

Business

Sri Lanka’s Treasury is in the dark over the submission of finance bills, necessary circulars and guidelines to collect revenue following unprecedented amendments introduced in the 2016 Budget during and after the committee stage of the debate.

The issuance of relevant circulars, gazette notifications and operating instructions to the relevant line ministries and agencies, giving effect to the budget proposals has been delayed due to uncertainty in the administration of the Finance Ministry, official sources revealed. Widespread speculation of heads rolling at the ministry in the New Year has hampered work, a senior official who wished to remain anonymous told the Business Times.