Mangala Samaraweera offers 5 point solution to the economic crisis in Sri Lanka

Mangala Samaraweera offers 5 point solution to the economic crisis in Sri Lanka

Mangala Samaraweera offers 5 point solution to the economic crisis in Sri Lanka

Written by Staff Writer

07 Jun, 2020 | 9:54 pm

Former Finance Minister – Mangala Samaraweera highlighted the need for a clear plan combined with decisive, courageous leadership that places the public interest above anything else in a public release issued earlier today.

In the release titled “A NEW DEAL FOR SRI LANKA” he points out that the worst economic crisis since Independence is embarking the country and adds that for some decades now “the grim clouds of debt, waste and corruption have been gathering over the island.”

He further highlights that hundreds of thousands of citizens are likely to lose their jobs, adding that hunger will visit countless families and adds that “the debt collector’s dreaded shadow looms over millions.”

Likening Sri Lanka’s economy to a Walauwa, he calls out for “a clear plan combined with decisive, courageous leadership that places the public interest above anything else.”

The Minister also recommended a 5 point plan for the crisis.

1) Ensuring that the Rs. 5000 relief continues throughout this crisis period and increased to Rs. 10,000 for the most vulnerable families.

2) Supplying banks with the necessary funds to effectively implement and extend the moratorium on loan payments, especially in micro-finance & leasing.

3) Providing firms with further concessionary loans and other relief, subject to the condition that they do not lay-off workers.

4) Commencing labour-intensive public works drive in productive infrastructure. Especially for public transportation.

5. Re-skilling workers who are made unemployed, making them employment-ready for new generation and export industries.

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