Budget to focus on green economy, renewable energy, IT and digital governance

Budget in Sri Lanka Parliament

The government would give priority to establishing a green economy, renewable energy, information technology and digital governance through the upcoming Budget, President’s Secretary Dr. P.B. Jayasundera said yesterday.

Answering questions through Webnex, organised by the President’s Media Centre, Dr. Jayasundera expressed concern about electricity unit cost here, stressing that Sri Lanka’s power tariffs were only second to Singapore in the region, which he said was a stumbling block to foreign investment here.

Speaking under the theme titled `Upcoming Budget – Dozens of Plans and the Economic Colour of the Country’ he said that the government would focus on investments without going for loans.

Dr. Jayasundera said diesel plants would be systemically sidelined and also they would focus on introducing electric vehicles.

He strongly believes that Sri Lanka needs to increase the volume of production of goods and services that can earn revenue.

He also said that there was a growing concern for the development of infrastructure and especially infrastructure for the rural agrarian economy.

Plans were in the pipeline to build and strengthen infrastructure to attract local businesses, new investors and tourists, he said.

Finance Ministry Secretary S.R. Attygalle stressed that despite worldwide economic disaster due to Covid pandemic, the Lankan public sector was paid their full salaries, and added that there wouldn’t be any future salary cuts either.

Responding to queries, he said that there was a proposal from the Energy Ministry to amend the Ceylon Petroleum Corporation Act. However, he said that investment involved India.

(Source: The Island – By Ifham Nizam)