Supplementary estimate of Rs. 695 b passed in Parliament

The supplementary estimate of Rs. 695 billion for Government expenditure was passed in Parliament yesterday.

The debate on the supplementary estimate of Rs. 695 billion was presented by Prime Minister Ranil Wickremesinghe.

Of the total estimate, Rs. 395 billion is for recurrent expenditure, whilst the remaining Rs. 300 billion is allocated for capital expenses.

A total of Rs. 87 billion will be spent on continuing the payment of the monthly allowance of Rs. 5,000 given to public sector employees since January 2022. 

The allowance is given to all commercial corporations, statutory boards, and State-owned enterprises (SOEs).

In addition, a sum of Rs. 40 billion has been allotted to pay the monthly allowance for pensioners, and Rs. 15 billion for the Rs. 1,000 allowance paid to the Samurdhi recipients.

A total of Rs. 50 billion is planned to be allocated to the Ceylon Electricity Board (CEB) to settle payments to the Ceylon Petroleum Corporation (CPC), Rs. 12 billion for green agriculture, and Rs. 50 billion for the fertiliser subsidies.

The estimate seeks the approval to allocate Rs. 25 billion for the provision of food and other revenue shortfalls in institutions such as security forces, hospitals, and prisons due to the soaring prices, and a further Rs. 4.5 billion recurrent expenditures and Rs. 21 billion for loan interests.

The Committee on Public Finance, chaired by MP Anura Priyadarshana Yapa, gave its nod to the supplementary estimate on Tuesday.