Aug 18, Colombo: Sri Lankan President Mahinda Rajapaksa also as the Finance Minister has focused on a manufacturing-based economy for the country when preparing the next year's budget.
The President has instructed the government officials to focus more attention on building up a manufacturing-based economy by the next budget, Deputy Secretary to the Treasury Dr. B M S Batagoda has told the national radio SLBC.
In preparing the budget as in the previous years, the President has sought the views, ideas and proposals from many sectors.
As a policy, the President seeks the opinions and suggestions from various sectors before formulating the budget.
Reportedly, over 23,000 individuals, groups and organizations have sent their proposals to prepare the last year's budget. More proposals from the public are expected this year as well, the SLBC said.
The government has already focused more attention on developing infrastructure facilities and upgrading living standards of the people, the official said.
The Treasury has already received many proposals seeking salary increases for the State and Private sector employees.
The public can submit their proposals until the end of the next month, the official said.
Although Sri Lanka's economy is the South Asia's fastest growing economy, the International Monetary Fund has warned that Sri Lanka needs to increase the revenue base to sustain the growth.