Vote on Account seeks Rs. 1.7 trillion for 1Q

Thursday, 29 November 2018 00:37 - - {{hitsCtrl.values.hits}}

Rs. 760 b for public services, Rs. 970 b for previously approved expenditure, Rs. 5 b for Govt. advance account
MR presents note on economy
A special meeting chaired by President to discuss economic issues
UPFA assures incentives to people while managing budget deficit
UPFA undecided on today’s P’ment debate on public finance access by PM office

By Chathuri Dissanayake

The Vote on Account (VOA), which will set public finances for the first three months of next year, seeks to access a total of Rs. 1, 735 billion from the Consolidated Fund, a top official said yesterday.

The VOA, which was approved by the President Maithripala Sirisena-appointed Cabinet this week.

It includes Rs. 760 billion for public services, Rs. 970 billion for expenditure previously authorised by different laws, and Rs. 5 billion for the Government advance account, MP Mahinda Samarasinghe told reporters.

President Maithripala Sirisena appointed the Cabinet led by MP Mahinda Rajapaksa, who was appointed Prime Minister following the sudden removal of sitting Prime Minister Ranil Wickremesinghe on 26 October.

MP Rajapaksa, who was appointed the Finance Minister by President Maithripala Sirisena, also presented a note on the country’s economy at the meeting to update those present on the current situation, Samarasinghe said. A special meeting has been summoned by Sirisena to discuss economic issues faced by the country, he added.

Both Samarasinghe and MP Dayasiri Jayasekara noted efforts would be made to give maximum relief to people, while still managing the fiscal deficit.

The parties opposing President Sirisena’s decision moved two votes of No Confidence in Parliament. The House is set to take another vote today, to block the Prime Minister’s office from accessing funds, citing the No Confidence Motions that were passed earlier this month.

However, it is not clear if the United People’s Freedom Alliance, supporting Mahinda Rajapaksa as Prime Minister, will boycott the vote. A decision is to be taken at the UPFA Parliamentary group meeting to be held this morning.

Both Samarasinghe and Jayasekara, who was also present at the media briefing, were confident of passing the Vote on Account if presented in Parliament, despite not having a clear majority.

“We will need a majority, but we don’t expect it to be a problem. We will look at that when the time comes,” he said. The VOA will be presented to Parliament only if the Supreme Court decides that the Gazette issued by President Sirisena dissolving Parliament was done by overstepping his powers as set out in the Constitution.

If the President’s order is upheld in the courts, Parliament stands dissolved, which then allows the President to gazette the VOA following a Proclamation, Samarasinghe said.