NAVIGATE
:

AG is unfair on debt burden



When one attempts to grasp the facts revealed by the Auditor General, Mr. Wjesinghe, in his recent statement, it is indeed puzzling why he did not analyze separately the two phases –i.e. the period from 2008 -20014 and the period from 2015 to date.


This factor is directly relevant to the 'public debate', which is receiving the attention of people on the debt levels incurred by two governments. We would like a comment from the Auditor General on this issue.


The interested groups will remember very well the war against the Tamil Tigers, the rehabilitation and reconstruction of the damaged infra-structure etc., were costs that had to be incurred by the then Government as a necessity, and it needed to borrow funds. Then there were many valuable large scale projects of the last government, which too required funding to maintain the growth momentum. One would also recall the higher growth rate enjoyed by the previous government, which was the result of the high investment made to the economy. Meantime, the major part of the present government's borrowing were not for investment purposes.


It is unfair for the Auditor General to put the debts incurred during 2008 to date into one basket and to sum up with a total, which is an unnecessary exaggeration.Further , there were many project loans which various institutions have dealt directly with different financial institutions,


The AG has opted for the easy way out by joining the slogan of missing trillions, rather than going through methodically analyzing and auditing public finances.


RANJITH SOYSA


 
 
 
 
 
 
 
 
 
 
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