Written by Staff Writer
29 Oct, 2015 | 9:49 am
Finance Minister Ravi Karunanayake, at a pre-budget breakfast meeting, assured the corporate sector that ‘rational proposals’ forwarded by the business community will be considered when formulating the Budget for 2016, the Ceylon Chamber of Commerce releasing a statement said.
The Minister met 25 CEOs of top companies representing a cross section of businesses from apparel to IT and construction to banking and finance.
The meeting was aimed at creating a platform for corporate leaders and the Ministry of Finance to discuss issues that needed government attention in steering the economy forward.
The draft appropriation bill approved by cabinet ministers had outlined initial spending for 2016 at 1,941 billion rupees which consists of 1,314 billion rupees for recurrence expenditure and 626 billion rupees for capital expenditure.
Revenue has been estimated at 1,789 billion rupees.
Economists have urged the government to focus on revenue generating reforms and rationalise spending.
Karunanayake recently told an investment forum in Colombo that the financial sector will be liberalised and some of the foreign controls eased.
The Budget for 2016 will be presented to parliament on November 20, 2015.
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