The Committee on Public Finance (CoPF) has decided to call for observation of the Central Bank of Sri Lanka (CBSL) regarding the Forensic Audit report on the issue on Treasury Bonds, at the committee meeting held yesterday (05) at the Parliament Complex.
The importance of CBSL submitting their own observations at the next committee meeting was highlighted by the committee chair MP M.A. Sumanthiran, a statement said.
Accordingly, the committee officials were directed to call for the participation of officials from the Central Bank of Sri Lanka in order to submit their observations on the report at the next committee meeting scheduled for the 18th of February 2020.
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The Committee also refused to grant mandate for the Order Under Section 2A of the Value Added Tax Act, No. 14 of 2002, as amended by Act, No. 06 of 2005, to reduce the Value Added Tax to 8%.
Accordingly, the committee also called for a detailed financial justification with regards to the aforesaid to be presented at the next committee meeting.
In addition, the Committee also refused to grant mandate for the Order Under Section 3 of Excise (SPECIAL PROVISIONS) Act, No.13 of 1989 on products of tobacco or of tobacco substitutes.
The Committee thus directed the respective officials of the Ministry of Finance to consult with the National Authority on Tobacco and Alcohol requesting the officials of the authority to be present at the next committee meeting.
State Minister Susantha Punchinilame, MPs Dilan Perera, Bimal Rathnayake, Mayantha Dissanayake, Prof. Ashu Marasinghe and Dr. S.M. Mohamed Ismail were present the committee.
