No Vehicle Purchase for Govt Institutions

The government has decided to stop purchasing vehicles, including ships and aircrafts, for all government, semi-government, autonomous, statutory, state-owned companies and financial institutions.

A circular of the Finance Division of the Ministry of Finance revealed this centering suspension and reduction of some expenditure in the operational and development budget for the current fiscal year (FY23) as part of austerity measures considering the current global economic situation.

It said the aforesaid government enterprises will be able to spend maximum 50 percent of their allocations as entertainment expenditure, travel expenditure as well as expenditure in other stationary items, computer and miscellaneous, electric equipment and furniture.

Besides, all training expenses inside the country will have to be completed within 50 percent of the allocation.

The government has recently taken various austerity measures apparently in the wake of the global economic situation following the COVID-19 pandemic and the ongoing Russia-Ukraine conflict.