Risk of ‘dictatorial’ tax revisions backfiring – Harsha
Member of the Economic Center of the Samagi Jana Balawegaya, Dr. Harsha de Silva says that the Government’s recent tax revision has a risk of being backfired, and alleged that the proposal was not brought before the Parliament and neither the Parliament Finance Committee for approval beforehand.
Speaking at a press conference held on Wednesday (12), the MP alleged that the tax revision is one of the moves which are stipulated in the IMF agreement, that was hidden from the public. Speaking further, the SJB MP said that these proposed ‘dictatorial’ tax amendments should be discussed more, and should be implemented gradually, in a step-by-step fashion rather than in a matter of a week or two.
If these tax revisions are implemented without consulting with the public, it would result in disastrous circumstances, including being backfired, Dr. de Silva warned. He also said that although bridge financing has been promised with billions of dollars incoming from countries such as China and Japan, none has been received, therefore, it eludes that the doors of the international market are closed to Sri Lanka, and the doors of friendly countries have also been closed.
“The doors of World Bank, Asian Bank and AIB Bank are also closed to us,” Dr. de Silva said.He also pointed out that although the President said that by December Sri Lanka will be able to sign the IMF External Fund Facility and obtain the first USD 2.9 billion, it does not seem to be happening. He emphasized the necessity of political stability and economic good governance to be implemented as policies for the facilities to be fulfilled.