News
Govt. moving towards further increasing SL’s debt burden – NPP MP
by Saman Indrajith
JVP-led NPP said the budget 2021 is an indication that the government is planning to further increase the country’s debt burden.
NPP MP Vijitha Herath participating in the second reading of the budget debate said that according to the budget proposals, the government’s revenue would be Rs 1,961 billion and the expenditure Rs 3,500 billion.
“There is no mention of how the gap will be bridged. This means the government plans to obtain loans amounting to Rs 3,000 billion. So far, this government has already taken Rs. 2,000 billion in loans. They have no option but to go in for more loans more loans to the tune of Rs 3,000 billion”, he said.
“The government’s plan is clear. Over the 2020-2021 period, the idea is to increase the debt burden by five trillion rupees. Then, we will be in a Rs. 18 trillion debt trap. The budget proposals have nothing new except printing more currency notes and getting more loans. There are no plans to generate revenue. Building an economy means generating revenue through increasing production in the country. Printing money and getting loans show the inability of a government. This government does exactly opposite of what it promised the people to get their votes”, he further said.
The government vowed not to sell national assets, but hot on the heels of assuming office, the cabinet approved selling three acres of land behind Shangri-la to Perennial Real Estate Holdings Limited. It slapped a tax on sugar saying that it was to promote local sugar production but recently the tax was reduced, which proved they had no genuine intention of promoting local production, the MP added.
“From January to August, tea production decreased by 16 percent, rubber by 5.9 percent, coconut by 11.3 percent. The industrial sector has collapsed and the fisheries sector is facing an unprecedented crisis. During the same period, the government imported 10,726 metric tonnes of rice. The government’s path is very clear. It is going down the path of neo-liberal economic policies. The government has not yet passed the benefit of nose diving global oil prices to the people. The government has failed in its first year. The performance of the next four years could easily be guessed,” MP Herath added.
The Cabinet of Ministers has approved the proposal presented by the Minister of Agriculture, Livestock, Land, and Irrigation to provide the required provisions to purchase the green gram harvest in a competitive manner with the private sector by expanding the program initiated by the National Food Promotion Board, on the advice of the Ministry of Agriculture, Livestock, Land, and Irrigation,
Green gram has been cultivated in an area of about 16,500 hectares in the 2025 Yala Season and intermediate season and a harvest of about 14,600 metric tons of green gram is expected. Currently, green gram harvesting has started in the Hambantota district, and it has been reported that middlemen are buying the harvest for a low price of Rs. 450/- per kilogram.
Approval has been granted at the cabinet meeting held on 08-02-2021 to award 326 bridge construction contracts to the State Development and Construction Corporation for the construction of bridges across the island under the Rural Bridges Program.
The construction of a further 23 bridges has been assigned to the Road Development Authority.
It had been decided in the year 2022, to stop the construction of 184 bridges, where construction had not been initiated. The construction of 45 bridges from the 142 remaining bridges have already been completed.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Minister of Transport, Highways, and Urban
Development to recommence the construction of the remaining 74 bridges by the State Development and Construction Corporation and to complete the construction expeditiously.
Policy approval of the Cabinet of Ministers was granted at their meeting held on 16.06.2025 to repeal the Parliamentary Pension Act No. 1 of 1971 of the State Council.
In keeping with the promise given to all Sri Lankans who supported the vision of ‘A wealthy country – A beautiful life’ which appeared in the policy declaration of the Government, a draft bill has been prepared by the Legal Draftsmen for
repealing the Parliamentary Pension Act with the objective of cancelling pensions rights given to elected members of the Parliament and their spouses.
As the Attorney General has given clearance to the draft bill, the approval of the Cabinet of Ministers was granted to the proposal submitted by the Minister of Justic and National Integration to publish the said draft bill in the government gazette notification and subsequently to be presented to the Parliament for its concurrence.
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Purchasing of 2025 green gram harvest
Cabinet approves the completion 74 bridges under the Rural Bridge Program
‘Heartbroken’ Alcaraz pulls out of Davis Cup Finals
Parliamentary Pension Act No. 1 of 1971 to be repelled
Cabinet nod to appoint Dr. (Eng.) K. Waligepolage as Director General of Irrigation
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