Appropriation Bill 2018 before Parliament today

Monday, 9 October 2017 00:48 - - {{hitsCtrl.values.hits}}

By Ashwin Hemmathagama – Our Lobby Correspondent

The Appropriation Bill to provide for the service of the financial year 2018 will be presented today in Parliament.

State Minister of Finance Eran Wickramaratne is expected to move the motion seeking House approval to raise and spend Rs. 3.982 trillion in 2018 to meet the capital as well as recurrent expenses of the Government. However, according to Government estimates state coffers will receive Rs. 2.175 trillion inclusive of donations and grants.

The highest allocation of Rs. 290.7 billion is for the Ministry of Defence and the lowest of Rs. 105 million is for the Ministry of Special Assignments.

The Appropriation Bill 2018, gazetted on 18 September 2017 to provide for the service of the financial year 2018, seeks passage to authorise the raising of loans inside or outside Sri Lanka, for the purpose of such service; to make financial provision in respect of certain activities of the Government during that financial year; to enable the payment by way of advances out of the Consolidated Fund or any other fund or moneys, of or at the disposal of the Government, of moneys required during that financial year for expenditure on such activities; to provide for the refund of such moneys to the Consolidated Fund and to make provision for matters connected therewith.

Finance Minister Mangala Samaraweera is scheduled to present the 2018 Budget speech on 9 November after which the debate on the second reading of the Budget will commence on 10 November and will continue for five days. The committee stage process will commence on 16 November and will continue until 8 December 2017. The third and final Reading Division of Budget 2018 will be made on Saturday, 9 December 2017. (AH)