Decisions taken at the meeting of the Cabinet of Ministers held on the 30.05.2022 1. Fundamental agreement with the global fund for the period of 2022 – 2024 The Global Fund to Fight AIDS, Tuberculosis and Malaria has been established with the objectiveof supressing / combating the 03 contagious diseases namely AIDS, Tuberculosis and Malariawhich have become global health crisis. The fund has entered into 24 agreements for fundingUnited States Dollars 114 million to Sri Lanka by the fund since the year 2003. The Ministry ofHealth have entered into 15 agreements among them, while the other agreements have been signedwith Sri Lanka National Sarvodaya Movement, Tropical and Environmental Diseases and HealthAssociates (Private) Limited and Sri Lanka Family Planning Association. The Ministry of Healthhas entered into agreements worth United States Dollars 88.3 million grants while actions havebeen taken to utilize United States Dollars 71 million by 31 st October 2021 out of them. The GlobalFund has agreed upon granting another United States Dollars 9.4 million for the period 2022 –2024. Accordingly, the Cabinet of Ministers have granted approval to sign the relevant agreementswhen the Minister of Health made the Cabinet of Ministers aware of the measures taken to sign therelevant agreements to obtain the said grant. 2. Engaging the dry stock vessels of Ceylon Shipping Corporation Limited within the SouthWestern monsoonal period of the year 2022. Aspirations have been called for engaging / operating the two vessels Mv. Ceylon Breeze and Mv.Ceylon Princess belongs to Ceylon Shipping Corporation in services within the international rentalmarket during the South Western monsoonal period of the year 2022. Accordingly, the Cabinet ofMinisters approved the proposal furnished by the Minister of Ports, Shipping and Aviation subjectto the recommendation of the standing procurement committee appointed by the Cabinet ofMinisters, to award the contract for operating the vessels during the said period under thecommercial management methodology to M/s Wallem Shipping Pte Ltd. of Singapore. 3. Payments for the suppliers submitted bids for supplying laboratory equipment, consumercommodities and reactive. Approval of the Cabinet of Ministers has been granted at their meeting held on the 25 th April 2022for making payments for the medicine and clinical equipment to which Letters of Credit (LC) as perthe emergency fluctuation in the exchange rates occurred due to the prevailing economic crisiswithin the country. Therefore, the Cabinet of Ministers has granted approval to the resolutionsubmitted by the Minister of Health for making payments to the suppliers who have opened lettersof credit (LC) for importing clinical equipment, consumer commodities as well as reactive and tomake payments to the other suppliers relevant to those opened bids including those procurers aftercalling quotations by the State Pharmaceutical Corporation based on the prices existing to the dateof payments applicable to letters of credit (LC). 4. Amendment of the Termination of Employment of Workmen (Special Provisions) Act No. 45of 1971 and the Industrial Disputes Act No. 43 of 1950. Approval of the Cabinet of Ministers has been granted on the 08 th of March 2021 to amend theTermination of Employment of Workmen (Special Provisions) Act No. 45 of 1971 and the Industrial Disputes Act No. 43 of 1950 to enable imposing provisions as applicable so that asecurity can be deposited when filing an application of appeals, amendments and writ applicationsagainst grants and decisions given under them. Accordingly, clearance from the Attorney Generalhas been granted for the draft bills those have been prepared by the Legal Draftsman. Therefore, theCabinet of Ministers granted approval to the resolution furnished by the Minister of Labour andForeign Employment Promotion to publish the said draft bills of the acts in the government gazette. 5. Submission of the regulations issued under the Imports and Exports (Control) Act No. 1 of1969 to the Parliament for approval. It has been proposed limitations for certain payment methods selected by the Central Bank of SriLanka with the objective of preventing the widening of illegal foreign exchange market activitiesand preventing invoices for lower values in regard to the imports. Accordingly, the gazettenotification on 06 th May 2022 has been issued imposing ‘import control regulations for paymentmethods No. 07 of 2022’ under Imports and Exports (Control) Act No. 1 of 1969 to enablelimitation of documentation payment methods on open accounts payment methods, the basis ofpayment of money after goods are sold, payment methods of documents on payments and paymentmethods on recognition. Such a regulation, once published should be submitted to the Parliamentfor its approval subject to the approval of the Cabinet of Ministers within a month from the date thesame was issued as per Imports and Exports (Control) Act. Therefore, the resolution furnished bythe Hon. Prime Minister as the Minister of Finance, Economic Stability and National Policies wasapproved by the Cabinet of Ministers in order to submit the import control regulations for thepayment methods No. 07 of 2022 to the Parliament to be approved. 6. Submission of Supplementary Estimates to Parliament The government has introduced a assistance package for Samurdhi Beneficiaries EstateCommunities, Pensioners and Government Servants at the beginning of 2022 to reduce as much aspossible the hardships faced by the public due to the adverse economic conditions. It has beendecided to submit a supplementary estimate to Parliament to cover the cost and secure the necessaryfunds to maintain the essential public services without hindrance. Accordingly, the proposal madeby the Prime Minister in his capacity as Minister of Finance, Economic Stabilization, and NationalPolicies to submit a supplementary estimate to the Parliament for the provision of Rs. 695 billionunder the "Budget Assistance Services and Emergency Responsibilities" project of the NationalBudget Department was approved by the Cabinet of Ministers. 7. Increasing the revenue for economic stability The government has decided to introduce a relaxed tax policy later in 2019 to reduce the rates ofvalue added tax, personal income tax, corporate income tax and to shrink the tax base on valueadded tax and income tax. As a result, government revenue has dropped significantly. In thiscontext, the cabinet of ministers approved the proposal presented by the Prime Minister in hiscapacity as the Minister of Finance, Economic Stabilization, and National Policies to instruct thelegal Draftsmen to prepare the necessary Bills to amend the following Acts with a view toincreasing Government Revenue. INLAND REVENUE ACT, No. 24 OF 2017 Value Added Tax Act, No. 14 of 2002 Telecommunication Levy Act No21 of 2011 Betting and Gaming Levy Act, No.40 of 1988 Fiscal Management (Responsibility) Act No. 3 of 2003 8. Calculation of GDP The Department of Census and Statistics updates the base year of National Accounts Estimationevery 5 years taking in to account the facts such as, accurate identification of the real structure ofthe economy, more accurate estimation of the values of economic growth rate, adaptation to thenew recommendations and procedures put forward by the relevant international bodies on nationalaccounts. Accordingly, it has been decided to use the year 2015 as the new base year instead of theyear 2010 which is currently based on the preparation of national accounts. The Department ofCensus and Statistics has prepared quarterly and annual National Accounts Estimates for the period2015 to 2021 using the base year 2015. The Cabinet of Ministers approved the proposal made bythe Minister of Finance to publish those reports and to issue National Accounts Estimates under thenew base year 2015 from the first quarter of 2022 onwards.