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Government’s ambitious growth plans for 2013 highlighted at CA Sri Lanka’s annual budget seminar

The Government’s ambitious plans for a more prosperous Sri Lanka were highlighted recently at the annual budget seminar organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).  Secretary to the Treasury, Dr. P.B. Jayasundera, who was the keynote speaker, disclosed that the 2013 budget presented by President Mahinda Rajapaksa early this month in Parliament made way for a new development boom, which will also lead Sri Lanka to be a poverty-free nation by 2016.

Addressing a packed house of almost 950 participants at Galadari Hotel, Colombo, Dr. Jayasundera emphasized that the 2013 budget focused primarily on economic development and the government’s long term vision which goes beyond the United Nation’s Millennium Development Goals.

While highlighting that the country’s tax system will not be compromised for short term gains, he noted that every effort has been taken to focus on the long term development of the capital market.

The Treasury Secretary also noted that special emphasis has been given for Small Medium Enterprise (SME) sector development in the 2013 budget, while efforts have been taken to create a more investment friendly environment for the corporate sector, which will encourage new investments.

Dr.  Jayasundera noted that the projected seven percent growth for 2013 will be driven by agriculture, exports, capital markets, poultry, fisheries,  SMEs and health sectors.

CA Sri Lanka President, Mr. Sujeewa Rajapakse speaking at the seminar noted that Sri Lanka is slowly, yet steadily progressing towards better times, from an impressive economic growth to more enhanced infrastructure facilities all across the country.

While emphasizing that rebuilding the nation is the most important need at present, he also stressed on the responsible role professionals can play in helping rebuild our nation.

“The past year has been quite exceptional, development wise and even economically despite a few hiccups, and I am hopeful that this momentum will continue throughout the next year too,” he added.

The seminar also featured Commissioner General of the Department of Inland Revenue, Ms. Mallika Samarasekara, Chairman of the CA Sri Lanka Faculty of Taxation, Mr. N. R. Gajendran and member of the CA Sri Lanka Faculty of Taxation, Mr. Duminda Hulangamuwa  as  speakers. The panelists included Deputy Secretary to the Treasury, Mr. S. R. Attygalle, Senior Tax Advisor of the Department of Fiscal Policy, Ms. Dhammika Gunathilaka and Deputy Commissioner General of the Department of Inland Revenue, Mr. H. B. A. Seneviratne.