Unbearable loans for impractical projects cause for economic crisis: MP Wijeyadasa

COLOMBO (News 1st); Obtaining large sums of foreign currency at high interest rates for projects that do not benefit this country has resulted in this economic crisis, says Sri Lanka Podujana Peramuna MP Wijeyadasa Rajapakshe.

Speaking after an event held in Pannipitiya on Sunday (12), the SLPP MP stated that the transferring of the ownership of the Yugadanavi Power plant is a major issue.

Speaking further, Rajapakshe said that by transferring the ownership, would result in the US company acquiring a monopoly over the Sri Lankan power and energy sector, which could lead to adverse consequences on the economy as well.

Moreover, the MP added that the country is in an economic crisis at the moment due to Government projects obtaining large sums of foreign currency, at high interest rates for projects, which end up not benefiting the country.