Finance Minister speaks on zero budget basing policy

Finance Minister speaks on zero budget basing policy

Finance Minister speaks on zero budget basing policy

Written by Tharushan Fernando

26 Nov, 2015 | 10:21 pm

Finance Minister Ravi Karunanayake made a special announcement in parliament on Thursday  regrading the zero budget basing policy.

The Minister of Finance said:

A zero budget basing programme has been introduced for the year 2016 and what is expected from it is the proper management of state property. A nd through this we hope to control the funds to obtain proper value for the money we spend, avoid the allocation of funds for the same project twice, three, to minimise the wastage, four, to not bear uneconomical costs.

He went on to note that the second phase will commence in January, 2016 and that the state valuers have already taken steps to begin assessing the value of the wealth of the government

Chief Opposition Whip,Anura Kumara Dissanayake meanwhile stated:

The issue here is that, since the inception of the free education system, all the governments have allocated capital expenditure and have accumulated property. At the end the value of these properties stand at Rs.121 billion and it is wrong to account this Rs.121 billion  as funds that have been allocated for education by the 2016 budget

UPFA Parliamentarian, Bandula Gunewardena said:

Irrelevant of whose government is in power, you cannot achieve that value 6% as a realistic surface value, without a major increase in the total revenue of the country.

He added:

They are going to carry out a fraud of Rs.12 billion and cover this up.

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