PARLIAMENT

OF SRI LANKA

SinhalaSriLankaTamil-SriLanka

Committee on Public Finance

Committee on Public Finance

(established by Resolution passed in the House on 19 December 2015)

(refer column 3211 of Hansard on 19.12.2015)

Primary duty of the Committee on Public Fiance is to examine :

(a)        the collection of revenue under Article 148 of the Constitution;

(b)       the payment from the consolidated fund;

(c)        the utilization of public funds for specific purposes by law;

(d)       the application of public;

(e)        the recessions of appropriations contained in the Appropriations Act, for the current year, the transfer of appropriation and the unexpected balance;

(f)        the implementation of the Appropriation Act for the current    year;

(g)        public debt and debt service;

(h)       reports and statements under the Fiscal Management (Responsibility) Act, No. 2 of 2003.

 

The Committee shall from time to time report to Parliament matters    arising from the matters referred to above.

The Committee shall present within 6 weeks of the tabling of the Budget Estimates of the Bill a Report on the estimates including whether the money is well laid out within the limits of Government policy.

The Committee shall present before Parliament within 04 days after the presentation of the Budget and the Second Reading of the Appropriation Bill a Report on the fiscal, financial and economic assumptions used as bases in arriving at total estimated expenditures and receipts.

The Committee shall have the power to:

(a) fix its quorum;

(b) send for persons, papers and records, may order any person to attend before Parliament or before such Committee, and to produce any paper, book record or document in the possession or under the control of such person;

(c) verify or otherwise ascertain by the oral examination of witnesses and examine witnesses upon oath or affirmation which the Chairman of the Committee or a person specially authorized for that purpose may administer;

(d) obtain the services of Specialists and Experts in the relevant fields to assist the Committee ; and

(e) make interim reports from time to time and to sit notwithstanding any adjournment of Parliament.

The Committee shall make its Report within One Year of the date of its first sitting or such other or further time as Parliament may grant.

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