To Pay Old Loans New Loans Won’t be Used – Ravi

Minister of Finance  Ravi Karunanayake speaking in parliament said, the loans obtained for development projects of the government won’t be utilized to pay off the debt obtained  by the former government.

He further said, the situation that prevails now is that government have more than enough funds to conduct all future development projects.

He added the government is taking steps to provide tax concessions to the public by the end of this year.

He said the government has increased VAT, adding that however it has promised to reduce VAT by the end of this year and the start of the next.

He undertakes  responsibility to reduce VAT in future. While Mahinda regime introduced 11 projects  the present Government has launched  39 development projects the  last 24 months

The Finance Minister added that the present government initiated an action plan that is profitable and contributes to the country’s economy.