Colombo: The Cabinet of Ministers of Sri Lanka has approved plans to tackle the severe economic crisis in the country.
Approval
Our neighbor Sri Lanka is facing various crises including foreign exchange deficit, fuel shortage, rising prices of essential commodities and power cuts. A Cabinet meeting chaired by Prime Minister Ranil Wickremesinghe was held to discuss plans to address these and improve the economy.
According to a statement issued by the Government of Sri Lanka, the Cabinet has approved plans to address Sri Lanka’s economic crisis. Accordingly, companies with a turnover of Rs 12 crore per annum will be subject to a 2.5 per cent community development tax.
For export, import, product, service, wholesale and retail sectors, this tax will be levied. Public sector employees will be given a day off on Friday to deal with the power outage. This order does not apply to sectors including electricity, energy, education, health and the military.
Petrol, Diesel
To cope with the shortage of food items and to encourage government employees in agricultural work, they will be given one day off per week. The scheme will be in force for the next three months.