Sri Lankan Officer Graduates from Royal Military Academy Sandhurst
In a significant milestone for Sri Lanka, a Sri Lankan officer has recently graduated from the prestigious Royal Military Academy Sandhurst in the United Kingdom. This accomplishment highlights the dedication and skill of Sri Lankan military personnel and their commitment to excellence in training and education.
The graduation of the Sri Lankan officer from Sandhurst represents a proud moment for the country’s armed forces and demonstrates the high standards of professionalism and leadership instilled in military personnel. The rigorous training and education provided at Sandhurst prepare officers for the challenges they may face in their military careers, equipping them with the skills and knowledge necessary to serve their country effectively.
President Wickremesinghe’s Address at the University Lecturers’ Conference
President Ranil Wickremesinghe recently delivered a keynote address at the University Lecturers’ Conference, where he outlined plans for providing relief for personal income tax in the near future. The President’s speech focused on the importance of higher education in driving Sri Lanka towards development and highlighted the need for comprehensive reform to transform the country’s higher education system.
During his address, President Wickremesinghe announced proposals under review by the Treasury and a counter proposal by the International Monetary Fund (IMF) to provide relief to segments like academia. These proposals are part of a larger strategy to stimulate economic recovery and ensure the quality of education in Sri Lanka.
President Wickremesinghe emphasized the critical role of higher education in driving economic growth and development, stressing the need for state universities to operate with greater independence to enhance the quality of education. He outlined key benchmarks and targets that Sri Lanka must meet to maintain economic stability and growth, including reducing the public debt to GDP ratio and increasing tax revenue.
Economic Transformation and Tax Relief Proposals
President Wickremesinghe discussed the Economic Transformation Bill and emphasized the need to make Sri Lanka an export-oriented and competitive economy. He highlighted the importance of tax relief measures to support economic growth and announced proposals to adjust the personal income tax structure to provide relief to taxpayers.
Two proposals are currently under consideration regarding tax relief. The Treasury’s proposal maintains a tax-free threshold of Rs. 1.2 million and widens the tax band, while the IMF’s counter proposal suggests widening the tax bands and maintaining the tax-free threshold. President Wickremesinghe stated that the decision on which proposal to adopt will be guided by what is best for the country and its people.
The President’s focus on economic transformation and tax relief reflects the government’s commitment to supporting economic growth and development in Sri Lanka. By implementing measures to provide relief for taxpayers and stimulate economic activity, the government aims to create a more prosperous and sustainable future for the country.
Overall, President Wickremesinghe’s address at the University Lecturers’ Conference highlighted the government’s efforts to drive economic recovery and transform Sri Lanka’s higher education system. Through comprehensive reform and strategic initiatives, the government aims to position Sri Lanka as a key academic center and a competitive player in the global economy.