Min. Sagala attributes economic woes of the public to poor fiscal management by the public

Min. Sagala attributes economic woes of the public to poor fiscal management by the public

Written by Staff Writer

08 Oct, 2018 | 9:43 am

Colombo (News1st): The opening ceremony for the road development project in Pitabaddara, Kaduruwana was held on Sunday (October 07), under the patronage of Minister of Youth Affairs, Project Management, and Southern Development Sagala Ratnayaka.

The estimated cost of this road project is Rs. 500,000. According to News1st  correspondent in the area, nearly 14 families use this road daily.

Speaking at the event Minister Sagala Ratnayaka said the country’s economy has not crashed and that it is on the correct path. He added that though the cost of living is difficult to bear, it does not indicate that the country’s economy has declined. The minister stated that roads are being developed daily and it will keep on developing.

He said when the economy gradually strengthens and when people receive more income is that those who rode bicycles will purchase three-wheelers, and those who owned three-wheelers will upgrade to Small cars. According to the Minister of Youth Affairs in order to facilitate these purchases the public obtain loans and as a result of these loans, the money that they have left to spend on food and other essentials decrease.

“We obtain a loan to purchase this vehicle and we are committed to pay back the loan through installments. Earnings allocated for our daily expenses is now less. This is called disposable income. Earnings allocated for daily expenses will be reduced, due to the loan installment. After installments are paid to the bank the balance money we have for food is now less.” – Sagala Rathnayake

The Minister noted that prices of goods have not increased adding that they continue to remain at prices lower than under the previous regime.

It’s a growing trend for ministers in Sri Lanka, to express irresponsible and inaccurate statements on important aspects of the country, like education, law, health, agriculture, and foreign services. It is understood that everybody does not have a wide knowledge of language or subject. Therefore it is important to study and understand the subject matter before they speak to the public, as their inaccurate and irresponsible statements could mislead them.

We request our Ministers to refrain from expressing their views and opinions with regard to subject matters beyond their knowledge and comprehension.

Simply put, if you do not know what you are saying, do not say it.

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]