Cabinet approved Rs. 219.37 b supplementary estimate for remaining 2024 expenses

The Cabinet of Ministers at its meeting on Monday approved a supplementary estimate of Rs. 219,373 million to be presented to Parliament to cover essential expenditures and manage the remaining financial obligations for 2024.

“The supplementary estimate allows for adjustments within the approved expenditure framework, ensuring that overall expenditure limits and the maximum Government debt ceiling are not exceeded,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said. 

Speaking at the weekly post-Cabinet meeting media briefing, he said this resolution will now proceed to Parliament for approval enabling the Government to allocate the necessary resources for identified functions during the remaining period of the fiscal year, which include;

i. To provide Rs. 130,000 million to the Department of Public Enterprise to pay the interest subsidy to be given to the banks as to the debt restructuring of the Ceylon Petroleum Corporation transferred to the balance sheet of the Government of Sri Lanka.

ii. To provide Rs. 18,000 million to the Department of Treasury Operations to account for the exchange loss arising on the outstanding balance of the dollar accounts held by the Deputy Secretary of the Treasury due to the strengthening of the rupee against the dollar.

iii. To provide Rs. 32,641 million to the Department of Development Finance to reimburse the payment of additional interest incurred by the banks in granting special interest rates for senior citizens.

iv. To provide Rs. 9,829 million to the Department of Education to account for the value of the school uniform fabric given as a grant from the Government of China.

v. To provide Rs. 8,331 million to the Sri Lankan Air Force to account for the value of 02 airplanes received by the Sri Lankan Air Force from the United States of America as a grant and to pay the taxes. 

vi. To provide Rs. 1,400 million to the Department of Pensions to pay the increased pensioners allowances.

vii. To provide Rs. 3,213 million to the Ministry of Finance to reimburse the payments made by the Central Bank of Sri Lanka to the financial/legal consultants with relevant to the debt restructuring process.

viii. To provide Rs. 1,533 million to the Department of National Budget to give additional provisions to the Ministry of Fisheries to account for the urgent aid received as a grant from the Government of China for providing assistance to the small scale fishing community in the northern and eastern provinces.

ix. To provide Rs. 10,826 million to the Department of National Budget to account for the value of stock of fuel received as a grant from the Government of Japan for the requirement of health sector and to provide an additional allocation to the Ministry of Health for the payment of customs duty of Rs. 5,225.5 million.

x. To provide Rs. 1,800 million to the Department of National Budget to provide additional provision to the Ministry of Education to increase the daily per pupil allowance from Rs.85 to Rs. 110 for school nourishment program.

xi.To provide Rs. 400 million to the Department of National Budget to provide additional provision to the Ministry of Defence for compensation for restoration of properties damaged due to natural disasters.

xii. To provide Rs. 1,400 million to the Department of National Budget to provide additional provision to the Department of Prison as to increase in the number of inmates in the prison and the increase in food prices.