He outlined a practical program tailored to the Government’s cash flow capabilities, with the primary objective of swiftly removing withholding tax on interest payments for those earning less than Rs. 100,000 monthly.

“The Government is dedicated to implementing a formal and practical relief program to alleviate the financial burden faced by the senior citizens. A significant allocation of around Rs. 40 billion annually is required for these compensation activities,” he added.

Addressing concerns raised by Opposition leader Sajith Premadasa in Parliament regarding bank interest rates for the elderly, Siyambalapitiya acknowledged that the Government has recognised the challenges faced by this demographic