Finance Minister challenges private sector over executing strategy

Finance Minister challenges private sector over executing strategy

Finance Minister challenges private sector over executing strategy

Written by Tharushan Fernando

27 Nov, 2015 | 8:48 pm

Minister of Finance, Ravi Karunanayake, at an event organised by CIMA which was themed The Business Impact of the 2016 National Budget, issued a challenge to the private sector on executing the strategy that has been provided by the government.

The Minister of Finance stated:

I bet you, the biggest challenge is execution; because the execution will not come from the government sector. It comes from the private sector.

He further stated:

I dare the private sector to take on the challenge on the way that we have given.

He added that the deficit will be from the private sector and not from the government. We are ready to take the challenge for the execution and we are basically putting a completely new operation.

He further stated:

The digitalisation of the economy is something that we intend  putting eight billion rupees in, to get a return in two years and we believe that it can happen in one year . So, that is the sense of direction change we intend on doing.

The Minister also commented on the issues raised on the emission tax proposed through the 2016 Budget stating that questions have been raised regarding the emission tax of 5000 but this is owned by 2 percent of the car owners of this country  – and they move from 1500 to 5000, which is an increase of 3500 , 300 rupees a month and the same private sector that got an exemption from 740,000 to 2.4 million are ones who complain.

He raised the question:

Now is this fair? Do you put your share into this?

He also stated:

Nobody complains of the 2.4 million exemption they get, but what goes with it. There is no free lunch.

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