Press briefing of Cabinet Decision taken on 2022-07-04

Submission of the Appropriation (Amendment) Bill 2022 to Parliament

- Owing to the depreciation of exchange rate, rise of inflation and as well as the shortage of essential commodities such as fuel, gas and electricity, people's life has become very uncomfortable severely affecting the sustenance of the normal livelihood of people and the maintenance of normal livelihoods as well as the sectors of agriculture, transportation, industries and export. Under this circumstance, approval of the Cabinet has been granted at its meeting held on 2022‑06‑06 to present a new budget for the year 2022. Further, Cabinet approval has also been granted to implement tax reforms with a view to increasing revenue for economic stability. Accordingly, taking into account all the relevant facts, Cabinet granted its approval for the proposal made by Hon. Prime Minister in his capacity as the Minister of Finance, Economic Stabilization and National Policies to amend the budgetary estimates which were passed by the Appropriation Act No,30 of 2021, and publish the draft bill prepared by the Legal Draftsman and cleared by the Attorney General, in the Government Gazette and thereafter, present the same in Parliament for approval.