A decision underneath the Finance Act to abolish the Shrama Vasana Fund working underneath the Ministry of Labour was handed in Parliament right this moment.
Accordingly, steps might be taken to liquidate the fund in the end.
The decision was offered to Parliament by Deputy Minister of Finance and Planning Anil Jayantha.
Anil Jayantha stated:
“The Shrama Vasana Fund comes underneath state enterprises. There isn’t any longer a necessity to keep up this fund.
The Ministry of Labour obtained Cupboard approval to abolish it. The fund receives its revenue from lottery gross sales.
“The aims of the fund are already being fulfilled by different divisions of the Ministry of Labour. Abolishing the fund may also assist cut back pointless administrative expenditure.
The liquidation is not going to lead to workers shedding their advantages, because the Ministry will take over these capabilities by means of different divisions. That is an effort to cut back expenditure, and it demonstrates a dedication to fiscal self-discipline.
“Whereas funds have been spent for the needs for which the fund was established, cash has additionally been spent on actions exterior these aims. In 2024, Rs. 6.6 million was spent on instructional programmes.
Manusha Nanayakkara was the Minister on the time.
Aiding schoolchildren doesn’t fall throughout the goal of helping employees. The Ministry of Schooling and different establishments are answerable for such actions.
“There was additionally one other vital expenditure. Rs. 66 million was spent on buying faculty baggage.
Everybody likes it when faculty baggage are distributed to kids. Nonetheless, this was an exercise carried out exterior the fund’s major aims.”
