Connect with us

News

No annual reports from Insurance Corporation, Electricity Board, Sathosa, Lotteries Board and Fisheries Corporation, etc., from 2015 to 2018

Published

on

By Saman Indrajith

SLPP National List MP Professor Ranjith Bandara told Parliament yesterday that the government’s economic policies and their feasibility had been amply reflected in the Central Bank annual report, the Finance Ministry’s performance report and in its mid-year fiscal report presented to Parliament during the last week of its sittings.

Moving a motion for the debate at the time of the adjournment of the House, Professor Bandara said that those reports scientifically analyzed and recounted the major economic setbacks suffered by the country’s economy during 2015-2019 due to the unhealthy economic policies, weak management and poor decision making of the previous government.

Prof. Bandara said that the said reports could be used to formulate future economic policies and strategies.

The adjournment motion was then seconded by SLPP Gampaha District MP Sahan Pradeep Withana, who said the country’s economy had been severely affected by the poor decision making and management under the previous government, the Easter Sunday carnage and the COVID-19 pandemic.

Citing the annual report of the Central Bank of Sri Lanka, MP Withana also said that there were several institutions that had not submitted their annual reports for the years 2015, 2016, 2017 and 2018 to the CBSL. The institutes include National Insurance Corporation, Electricity Board, Lanka Sugar, Sathosa, Lotteries Board and Ceylon Fisheries Corporation.

MP Withana said that during the previous government, financial assistance for the private sector had decreased. He added that investors and entrepreneurs had lost confidence due to lack of political stability as well.

The MP pointed out that the government revenue had decreased by Rs. 29 billion in 2019, compared to 2018.

MP Withana said that the government expenditure had increased by 8.2% in 2019 compared to 2018.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Avishka and Sadeera power Jaffna Kings to nine wicket win

Published

on

By

Half tons by Avishka Fernando and Sadeera Samarawickrema powered Jaffna Kings to a nine wicket win over Dambulla Aura in the 3rd match of the LPL2022  at MRICS Hambanthota on Wednesday (07)

Dambulla Aura 121/9 in 20 overs (Jordan Cox 43; Maheesh Theekshana 3/20, Vijayakanth Vijaskanth 3/24, James Fuller 2/16, Zaman Khan 1/28)

Jaffna Kings 122/1 in 15.4 overs (Avishka Fernando 51 , Sadeera Samarawickrema 62 not out; Noor Ahamed 1/28)

Continue Reading

News

Govt. says selling state assets only way to build reserves and prevent crippling shortages

Published

on

By Rathindra Kuruwita

Cabinet spokesman Minister Bandula Gunawardena yesterday (06) said Sri Lanka wouldn’t be in a position to be part of the international trading system unless it boosted its foreign reserves by selling some of its assets. Gunawardena, who also holds media and transport portfolios said so at yesterday’s post-Cabinet press briefing.

Responding to a query about the government’s decision to divest vital national assets, the Minister said that if Sri Lanka did not shore up its reserves to the tune of over three billion dollars, international companies would not accept the letters of credit given by Sri Lankan banks.

President Ranil Wickremesinghe, in his capacity as the Finance Minister, has proposed privatising of several state enterprises including Sri Lanka Insurance and Sri Lanka Telecom.

“Former President Chandrika Bandaranaike Kumaratunga sold a number of state owned enterprises. If we don’t increase our reserves, to over three billion USD soon, we will have problems importing fuel, and other essential items. Last week, Fitch again reduced our rating. No matter who governs Sri Lanka, they will all face the same problem. We need to build our reserves,” the Minister said.

Minister Gunawardane said that the need of the hour was to sell some assets and boost Sri Lanka’s reserves.

“China, India, Vietnam, and Malaysia are attracting a lot of investors. Only we have failed to do so, and we need to think why this is. Even our entrepreneurs are leaving for other countries. We need to change the way we think, if we want to attract investors to Sri Lanka,” he said.

Continue Reading

News

Ven Siridhamma, Mudalige granted bail; latter re-arrested

Published

on

Convenor of Bhikku Balamandalaya affiliated Inter University Students Federation (IUSF) Ven. Galwewa Siridhamma Thera leaving Court yesterday (06) after Kaduwela Magistrate Chanima Wijebandara granted him bail. The Thera was held under the Prevention of Terrorism Act for causing damages to public property during a protest opposite the Education Ministry, over three months back. The Magistrate ordered the Thera released after the police failed to identify the monk at an identification parade. However, IUSF Convenor Wasanatha Mudalige, who was also released by the Magistrate, after the police couldn’t identify him, was taken into custody in connection with some other case.

Pics by Kamal Bogoda

Continue Reading

Trending