Sri Lanka to strengthen economy despite global scenario: Ravi K

Ravi-Karunanayake

Sep 29, 2015 (LBO) – Sri Lanka’s finance minister Ravi Karunanayake said that the government would continue to strengthen the economy despite the current global situation.

“I am ready to make a special statement on the fiscal situation of the country within the next couple of days,” Karunanayake said.

“We will also explain how the emerging global economic trends would impact the country’s economy,” he added

“Whatever the global situation is, our main thrust is to strengthen the country’s economy.”

“We are already discussing underlying issues with economists and other experts in the field.

The ministry plans to present budget proposal to the Parliament on November 20th this year. The same rulers had a mini budget earlier, which critics called “the basket of goodies for election” and the “Saradiel budget”.

“I would also like to take this opportunity to make an appeal to the relevant stakeholders to submit their proposals for the budget to be presented on November 20th,” Karunanayake said.

“We are ready to discuss them and accommodate all good proposals in the budget.”

He said this addressing a media briefing following his meeting with the CIMA delegation, President Myriam Madden.

Karunanayake also said that the government has no plans on privatizing public sector institution.

“The bankrupt opposition is leveling baseless allegations against the government claiming that we are going to privatize certain public sector institutions,”

“We have to remind them that we have already removed the term ‘privatization’ from our dictionary,”

“What we want to do is to streamline the management of some public sector institutions.”

On Monday, the Central Bank governor said that the current thinking of the government was to create a holding company with equity stakes in public enterprises so as to improve corporate governance and restructure where necessary.

“I would like to emphatically state that this should not be construed as government giving up its responsibilities. Last year alone, the loss incurred by Sri Lankan Airlines amounted to 13.2 billion rupees. We have taken measures to rectify this situation,” Karunanayake said.

“We are also ready to probe the rampant corruption at the Petroleum Corporation. The opposition which is taking about privatization today seems to have forgotten how they tried to sell our lands to foreigners.”