Two Appropriation Bills to House in Nov.

• State Minister Semasinghe says two separate Appropriations Bills will be presented for 2020 and 2021 to House
• Says all expenditure details for 2020 will be tabled in Parliament 
• Emphasises all money was drawn lawfully by President during months Parliament was not in session
• Says Govt. will not falter on loan repayments with over Rs. 2,800 b paid for 2020
• Trade Minister says Govt. has given the people new lease of life with relief packages to overcome COVID-19 challenge
• Govt. estimates revenue for 2020 at Rs. 1.5 tr but expenditure Rs. 3 tr 
• Says Rs. 250 b in outstanding payment to be met this month 
• Insists SL will not record negative growth this year  

By Chandani Kirinde

The Government said yesterday it will present two Appropriation Bills to Parliament in November, one detailing the expenses incurred for 2020, and the other for the 2021 financial year.

“As there was no Budget in 2020 due to the delay in holding elections, because of the COVID-19 outbreak, Parliament will be kept apprised of all the expenditure incurred for 2020. We will present two separate Appropriation Bills for 2020 and 2021, which will comprehensively detail all expenditure,” State Minister of Samurdhi, Household Economy, Micro Finance, Self-Employment, Business Development and Underutilised State Resources Development Shehan Semasinghe told Parliament.

He made this disclosure when he wrapped up the day-long debate on nine Orders under the Excise (Special Provisions) Act, and ten Notifications under the Excise Ordinance (Chapter 52), which were taken up for discussion yesterday.

Semasinghe refuted allegations by Samagi Jana Balawegaya (SJB) MPs that the Government had drawn money from the Consolidated Fund without proper authorisation from Parliament during the first half of the year.

“Every cent taken from the Consolidated Fund was drawn lawfully by the President, using the powers vested in him under the Constitution. For the period September to December, we brought a Vote on Account and got Parliamentary approval for it,” he said.

He said the Government’s estimated revenue for 2020 is Rs. 1525 billion, while expenditure for this year is calculated at Rs. 3085 billion. The expenditure covers around Rs. 250 billion in unpaid bills that were left by the last Government, all of which were settled by this month, he said.

Semasinghe said the country’s debt had gone from Rs. 7392 billion in 2014 to Rs. 13,031 billion by 2019, and the percentage of foreign loans had increased from 30% in 2014 to around 42.6 % under the last Government.

Despite this, Semasinghe said the Government would not falter on its debt payments. “We have furnished the loan repayments on time. In 2020, we have Rs 2,854 billion inclusive of Rs. 954 billion in interest.”

He said the country would not go into negative growth, even though some in Opposition have predicted so, and stressed that the economy will see a resurgence by the end of 2020 as people begin to reap the benefits of the relief measures put in place by the Government.

Meanwhile, Trade Minister Bandula Gunawardana, who took part in the debate, said after independence, it was only during the Good Governance regime that the economy had suffered a decline during consecutive years.

He said that the present Government had given the people a new lease of life, and President Gotabaya Rajapaksa had granted a tax relief package and a debt relief package after assuming office, and had reduced the loan interest rates to single digits of 8% and 9%.

Accordingly, he said the country is heading in a new direction, while protecting domestic production. These concessions were granted to boost domestic industries and businesses, also observing that there would be greater challenges ahead.

Minister Gunawardana said that the program to recruit 60,000 graduates is currently underway, in addition to the Government’s drive to provide employment to around 100,000 low income and Samurdhi family members who have passed the G.C.E O/L examination.