Ministry of Finance and Planning (Sri Lanka)

Ministry of Finance and Planning (Sri Lanka)

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Encyclopedia
The Ministry of Finance & Planning and the Treasury of Sri Lanka (also known as the Finance Ministry or the Treasury) is a ministry
Ministry (government department)
A ministry is a specialised organisation responsible for a sector of government public administration, sometimes led by a minister or a senior public servant, that can have responsibility for one or more departments, agencies, bureaus, commissions or other smaller executive, advisory, managerial or...

 of the Government of Sri Lanka responsible for developing and executing the government's public finance
Public finance
Public finance is the revenue and expenditure of public authoritiesThe purview of public finance is considered to be threefold: governmental effects on efficient allocation of resources, distribution of income, and macroeconomic stabilization.-Overview:The proper role of government provides a...

 policy, economic policy
Economic policy
Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.Such policies are often...

 and long term planning. The Treasury is housed at the General Treasury Building
General Treasury Building
The General Treasury Building is the building that houses the Treasury of Sri Lanka and the Ministry of Finance & Planning along with several of its departments. It was formally known as the Secretariat Building therefore it is still officially referred to as the The Secretariat...

in Colombo fort
Colombo
Colombo is the largest city of Sri Lanka. It is located on the west coast of the island and adjacent to Sri Jayawardenapura Kotte, the capital of Sri Lanka. Colombo is often referred to as the capital of the country, since Sri Jayawardenapura Kotte is a satellite city of Colombo...

.

Although the officer of the treasurer of the British Government of Ceylon
British Ceylon
British Ceylon refers to British rule prior to 1948 of the island territory now known as Sri Lanka.-From the Dutch to the British:Before the beginning of the Dutch governance, the island of Ceylon was divided between the Portuguese Empire and the Kingdom of Kandy, who were in the midst of a war for...

 dates back to the early nineteenth century the Ministry of Finance was established in 1947 prior to the independence of Ceylon as the Ministry of Finance and the Treasury of Ceylon with young J.R Jayawardena
Junius Richard Jayewardene
Junius Richard Jayewardene , famously abbreviated in Sri Lanka as JR, was the first executive President of Sri Lanka, serving from 1978 till 1989. He was a leader of the nationalist movement in Ceylon who served in a variety of cabinet positions in the decades following independence...

 as the first Minister of Finance. Over time the Ministry took over the policy planning which it currently undertakes.

Senior officials

  • Minister of Finance & Planning
    Minister of Finance of Sri Lanka
    The Minister of Finance is an appointment in the Cabinet of Sri Lanka. The post was created in 1947 with the Ceylon gaining independence and establishing self governess. The post has always been held by a senior member of the ruling party and in the recent years by the President with a deputy...

      — His Excellency
    Excellency
    Excellency is an honorific style given to certain members of an organization or state.Usually, people styled "Excellency" are heads of state, heads of government, governors, ambassadors, certain ecclesiastics, royalty, aristocracy, and military, and others holding equivalent rank .It is...

     President
    President
    A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...

     Mahinda Rajapaksa
    Mahinda Rajapaksa
    Percy Mahendra "Mahinda" Rajapaksa ; ; born November 18, 1945) is the 6th and current President of Sri Lanka and Commander in Chief of the Sri Lankan Armed Forces. A lawyer by profession, Rajapaksa was first elected to the Parliament of Sri Lanka in 1970, and served as prime minister from April 6,...

  • Minister of State Revenue and State Finance and Deputy Minister of Finance and Planning — Hon. Ranjith Siyambalapitiya
    Ranjith Siyambalapitiya
    Basnayaka Ralalage Ranjith Siyambalapitiya is a Sri Lankan politician, member of parliament for the Kegalle District and Cabinet Minister of Telecommunication and Information Technology. He was educated at the prestigious Royal College Colombo.-References & External links:**...

    , MP
    Parliament of Sri Lanka
    The Parliament of Sri Lanka is the 225-member unicameral legislature of Sri Lanka. The members of Parliament are elected by proportional representation for six-year terms, with universal suffrage. Parliament reserves the power to make all laws...

  • Deputy Minister of Finance and Planning — Hon. Dr
    Doctor (title)
    Doctor, as a title, originates from the Latin word of the same spelling and meaning. The word is originally an agentive noun of the Latin verb docēre . It has been used as an honored academic title for over a millennium in Europe, where it dates back to the rise of the university. This use spread...

     Sarath Amunugama
    Sarath Amunugama (politician)
    Sarath Leelananda Bandara Amunugama , MP, SLAS is a Sri Lankan politician and civil servant. He was the Cabinet Minister of Public Administration and Home Affairs and Deputy Minister of Finance and Planning until April 2010...

     , MP
    Parliament of Sri Lanka
    The Parliament of Sri Lanka is the 225-member unicameral legislature of Sri Lanka. The members of Parliament are elected by proportional representation for six-year terms, with universal suffrage. Parliament reserves the power to make all laws...

  • Permanent Secretary
    Permanent Secretary
    The Permanent secretary, in most departments officially titled the permanent under-secretary of state , is the most senior civil servant of a British Government ministry, charged with running the department on a day-to-day basis...

    , Ministry of Finance and Planning Secretary to the Treasury — Dr.P.B Jayasundera

Treasury Departments

  • National Planning Department
  • External Resources Department
  • National Budget Department
  • Public Enterprises Department
  • Management Services Department
  • Fiscal Policy Department
  • Trade, Tariff & Investment Policy Departmentt
  • Development Finance Department
  • Public Finance Department
  • Legal Affairs Department
  • Treasury Operations Department
  • State Accounts Department
  • Management Audit Department

Government Revenue and Information Agencies under the purview of the Ministry

  • Customs Department
    Sri Lanka Customs
    Sri Lanka Customs is a non-ministerial government department, which performs the duties of collecting customs duties and other taxes and levies in Sri Lanka. It comes under the purview of the Ministry of Finance. Head of the Sri Lanka Customs is the Director General of Customs, Mrs...

  • Inland Revenue Department
  • Excise Department
  • Imports and Exports Control Department
  • Valuation Department
  • Census and Statistics Department

Statutory institutions under the purview of the Ministry

  • Central Bank of Sri Lanka
    Central Bank of Sri Lanka
    The Central Bank of Sri Lanka is the monetary authority of Sri Lanka. It was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J.R...

  • Bank of Ceylon
    Bank of Ceylon
    Bank of Ceylon is a government-owned, major commercial bank in Sri Lanka. Its head office is located in iconic cylindrical building in the capital Colombo, the political and commercial capital of the islandThe bank has a network of 308 branches and 200+ extension centers covering all parts of the...

  • People’s Bank
  • National Savings Bank
  • State Mortgage & Investment Bank
  • Lanka Puthra Development Bank
  • Rajarata Development Bank
  • Sabaragamuwa Development Bank
  • Kandurata Development Bank
  • Ruhuna Development Bank
  • Uva Development Bank
  • Wayamba Development Bank
  • Development Lotteries Board
  • National Lotteries Board
  • Employees’ Trust Fund Board
  • National Insurance Trust Fund
  • National Development Trust Fund
  • Sri Lanka Accounting and Auditing Standards Monitoring Board
  • Insurance Board of Sri Lanka
  • Credit Information Bureau of Sri Lanka
  • Securities and Exchange Commission of Sri Lanka
  • Sri Lanka Savings Bank
  • Housing Development Finance Corporation Bank

Permanent Secretaries


The position of Secretary to the Treasury is rooted in the post of Financial Secretary of the colonial Government of Ceylon
British Ceylon
British Ceylon refers to British rule prior to 1948 of the island territory now known as Sri Lanka.-From the Dutch to the British:Before the beginning of the Dutch governance, the island of Ceylon was divided between the Portuguese Empire and the Kingdom of Kandy, who were in the midst of a war for...

 this it self originated from the post of Treasurer of the colonial government. Appointments were made from the members of the British Civil Service
British Civil Service
Her Majesty's Home Civil Service, also known as the Home Civil Service, is the permanent bureaucracy of Crown employees that supports Her Majesty's Government - the government of the United Kingdom, composed of a Cabinet of ministers chosen by the prime minister, as well as the devolved...

 and later from the Ceylon Civil Service
Ceylon Civil Service
The Ceylon Civil Service, popularly known by its acronym CCS, originated as the elite civil service of the Government of Ceylon under British colonial rule in 1833 and carried on after independence, until May 1, 1963 when it was abolished and the much larger Ceylon Administrative Service was...

. It was one of three the key government colonial post, others being Colonial Secretary
Colonial Secretary
Colonial Secretary may refer to:* Secretary of State for the Colonies, British Cabinet minister who headed the Colonial Office, commonly referred to as Colonial Secretary...

 and Law Secretary]]. The post of Financial Secretary came second in the order precedence after Colonial Secretary or Chief Secretary as the post was known.

Following independence in 1947 and the official post of Secretary of Treasury, with appointment begin of grade of an Permanent Secretary
Permanent Secretary
The Permanent secretary, in most departments officially titled the permanent under-secretary of state , is the most senior civil servant of a British Government ministry, charged with running the department on a day-to-day basis...

 and to the most senior member and head of the Ceylon Civil Service
Ceylon Civil Service
The Ceylon Civil Service, popularly known by its acronym CCS, originated as the elite civil service of the Government of Ceylon under British colonial rule in 1833 and carried on after independence, until May 1, 1963 when it was abolished and the much larger Ceylon Administrative Service was...

. Most appointments in the recent past have been for persons who have not been the career civil servants and the post is concurrently held with that of Permanent Secretary of the Ministry of Finance.
  • Charles Ernest Jones, CCS
    CCS
    -Geosynthetics:*Cellular confinement systems , a honeycombed geosythethetic matrix filled with granular material used for soil confinement, stabilization and reinforcement.-Places:*Abbreviation for Caracas, Venezuela....

     (29.09.1947 – 12.12.1950)
  • Theodore Duncan Perera, CCS
    CCS
    -Geosynthetics:*Cellular confinement systems , a honeycombed geosythethetic matrix filled with granular material used for soil confinement, stabilization and reinforcement.-Places:*Abbreviation for Caracas, Venezuela....

      (13.12.1950 – 12.03.1951)
  • Arthur Godwin Ranasinha, CCS
    CCS
    -Geosynthetics:*Cellular confinement systems , a honeycombed geosythethetic matrix filled with granular material used for soil confinement, stabilization and reinforcement.-Places:*Abbreviation for Caracas, Venezuela....

      (12.04.1956 – 22.11.1959)
  • Leopold James Seneviratne, CCS
    CCS
    -Geosynthetics:*Cellular confinement systems , a honeycombed geosythethetic matrix filled with granular material used for soil confinement, stabilization and reinforcement.-Places:*Abbreviation for Caracas, Venezuela....

      (14.10.1954 – 14.08.1956)
  • Samson Felix Amarasinghe, CCS
    CCS
    -Geosynthetics:*Cellular confinement systems , a honeycombed geosythethetic matrix filled with granular material used for soil confinement, stabilization and reinforcement.-Places:*Abbreviation for Caracas, Venezuela....

      (15.08.1956 – 31.05.1961 )
  • H S Amarasinghe
    Hamilton Shirley Amerasinghe
    Hamilton Shirley Amerasinghe, CCS was a Sri Lankan diplomat and civil servant. He was the Ceylon's High Commissioner to India and concurrently Ambassador to both Nepal and Afghanistan and Permanent Secretary of the Ministry of Finance & Treasury and the Ministry of Health...

    , CCS
    CCS
    -Geosynthetics:*Cellular confinement systems , a honeycombed geosythethetic matrix filled with granular material used for soil confinement, stabilization and reinforcement.-Places:*Abbreviation for Caracas, Venezuela....

      (01.06.1961 – 10.10.1963)
  • H E Tennekoone (11.06.1963 – 18.12.1963)
  • H J Samarakkody, CAS (19.12.1963 – 14.11.1968)
  • M Rajendra, CAS  (15.11.1968 – 06.05.1971)
  • C.A. Corray, SLAS (17.05.1971 – 01.07.1975)
  • Dr. L R Jayewardena (16.07.1975 – 08.03.1978)
  • Dr. W M Thilakeratne (28.03.1978 – 04.02.1987)
  • B Mahadeva (05.02.1987 – 19.07.1987)
  • C Chanmugam (20.07.1987 – 31.12.1988)
  • R Paskaralingam (04.01.1989 – 18.01.1994)
  • N V K K Weragoda (19.01.1994 – 18.08.1994)
  • A. S. Jayawardene
    A. S. Jayawardene
    Amarananda Somasiri Jayawardena is a Sri Lankan economist and civil servant. He was the former Governor of the Central Bank of Sri Lanka, the Permanent Secretary of the Ministry of Finance & Treasury and an Alternate Executive Director of the International Monetary Fund .-Education:He received his...

     (19.08.1994 – 07.11.1995)
  • B C Perera (08.01.1996 – 31.01.1998)
  • Dixon Nilaweera (16.03.1998 – 01.11.1999)
  • Dr. P B Jayasundera (01.11.1999 – 18.12.2001)
  • J Charitha Ratwatte (19.12.2001 – 02.04.2004)
  • Dr. P B Jayasundera (19.04.2004 – 17.09.2008)
  • S Abeysinghe, SLAS (17.09.2008 – present)

External links