Government and opposition Parliamentarians at loggerheads over Sri Lanka’s economic climate

Government and opposition Parliamentarians at loggerheads over Sri Lanka’s economic climate

Government and opposition Parliamentarians at loggerheads over Sri Lanka’s economic climate

Written by Jayamal Ratnayake

11 Dec, 2020 | 9:14 pm

Colombo (News 1st): The current state of Sri Lanka’s economy figured heavily during the budget debate which concluded yesterday. A number of ministers and opposition MPs were at loggerheads over the performance of the economy. 

Speaking in Parliament yesterday (10), State Minister of Finance, Capital Markets and Public Enterprise Reforms Ajith Nivard Cabraal claimed the budget for 2021 had been prepared to focus on a number of aspects, the key of which was growth.

” We intend to make the necessary investments utilizing the help of the private sector as well. We expect to establish the infrastructure in order to stabilize the rupee”, the State Minister said.

Criticizing the Government’s plan of heading towards a production-based economy, Samagi Jana Balawegaya MP Dr. Harsha De Silva warned, against a backdrop where economic powerhouses were unable to successfully implement a production-based economic system, our nation would be unable to bear such an alternate policy.

” Pursuing such a policy will only result in a repeat of what happened in 1971 and 1977. Where are the funds to launch such a policy? Our revenue is insufficient to service this year’s debt”, Dr. De Silva noted.

Replying to the speech made by Dr. Harsha De Silva, State Minister Shehan Semasinghe claimed, ” we have not decided to isolate ourselves from the rest of the world and to halt trade. We have always allowed imports and we will continue to allow them. We have not stopped imports but have imposed limits. What is wrong with that?

Speaking during the debate, Samagi Jana Balawegaya MP Eran Wickremerathna said, ” We cannot isolate ourselves and escape globalization. Fitch Ratings has downgraded Sri Lanka to CCC. If this worsens, we won’t even be on the list”.

 

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