FinMin increases spending limit by SOEs on CSR, donations with conditions

Ministry of Finance has issued a circular directing all State-Owned Enterprises (SOEs) to overhaul their processes for donations, sponsorships, Corporate Social Responsibility (CSR) activities, and indirect business-related promotional expenses, while increasing their limits, a government document showed.

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The Public Enterprises Circular, dated November 19 and circulated to statutory boards, SOE boards, and state banks, introduces a revised framework aimed at ensuring such expenditures align strictly with national development objectives, institutional mandates, and transparent governance standards.

The new directive subject to some strict conditions will allow a member of a SOE board of director to spend Rs. 100,000 per event, while it allows a director general of a Department of Public Enterprise to spend between Rs. 100,000-200,000 per event, the circular signed by Treasury Secretary Harshana Suriyapperuma showed.

The amount that could be donated by the Finance Minister has risen to above Rs. 1 million from above Rs. 100,000 while the amount for the Treasury Secretary has raised up to Rs. 1 million, for Deputy Treasury Secretary increased up to 500,000.