Fast track Budget implementation of incentives for Lankan workers employed overseas

The government has fast tracked the implementation process of incentives granted for Sri Lankan workers employed overseas in budget proposal-2021, the Ministry of Finance said.

The budget proposed an incentive to pay Rs.2 per USD when such employees or their beneficiaries convert such remittances of earnings into Sri Lankan Rupees recognizing Sri Lankans employed overseas and their contribution to the economy amidst the challenges arising from the COVID-19 pandemic. 

This scheme will be implemented through Licensed Banks with the government bearing the required cost of such incentives paid, the Finance Ministry said while indicating necessary instructions on the implementation process will be issued by the Central Bank of Sri Lanka.

“All Sri Lankans working overseas are invited to make use of this opportunity to remit their funds through secure sources and earn more at the point of conversion to Sri Lankan Rupees,” M.G. Jayatissa, Director of Information of the Ministry added.