A key member of the NPP Economic Council, Dr. Harshana Suriyapperuma said the Government is set to provide income and Value-Added Tax (VAT) relief as soon as possible and confirmed that tax relief is imminent.
Following the General Election and with the introduction of the new Budget, necessary changes will be implemented to ease the burden on the public, Dr.Suriyapperuma told the Sunday Observer yesterday.
We are working with every stakeholder to address the barriers. We will act immediately wherever relief can be provided within the current framework. For example, the visa issue was resolved without legislative changes, and the recent fuel price adjustments were made to give people some relief amid the rising cost-of-living,” he said.
Dr. Suriyapperuma said that businesses are also suffering due to the high cost of production. “We are tackling both fronts to ensure that energy costs become affordable for consumers and businesses. Sri Lanka has one of the region’s highest energy costs, making it difficult for our businesses to compete internationally. The high cost of production, including financing due to fluctuating interest rates, has cost us many opportunities,” he said.
He said that reducing energy costs is a top priority. “Energy prices increased by nearly 300 percent, severely impacting our ability to compete in exports. We aim to lower these costs to a level where businesses can prosper. At the same time, we must ensure affordability for consumers so they can maintain a decent standard of living. This includes enabling families to afford essentials, ensuring children access school supplies, and making medical care accessible to patients,” he added.