Stage set for SL to be a debt free State: PM

2 August 2017 04:12 am - 14 - {{hitsCtrl.values.hits}}

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The stage has been set for Sri Lanka to become a debt free nation, Prime Minister Ranil Wickremesinghe said yesterday.

The premier made this statement during the opening of the new swimming pool at Prince of Wales College Moratuwa last evening.

“Country may have borrowed funds for good things and bad things but borrowings came during the present generation. Therefore, it is the present generation which should settle them. We should not leave the burden of debt to others. Parents never allow their children to inherit their debts. They settle their debts and secure a future for their children. We are trying to do the same and has paved the way for it,” the Prime Minister said.

“We have to utilize almost whole of its revenue to settle the debts. Taxes have to be increased to generate funds to settle debts. Revenue of individuals decline when taxes are increased. Therefore this government initially focused on paying off the debts,” he said.

The Premier said the government will start off paying its debts by the year 2020 and to ease the debt burden by 2025. It is also essential to provide employment opportunities, bring in new technologies. “There are several projects lined up for the future generations. One must get the full use of these development projects. Country will go through a vast industrialization process. Sri Lanka currently depends on the export of few items such as apparels and tyres. This has to be expanded and the country should go for more manufacturing industries such as electronic goods and must expand the software industry,” he said.

“We are going in for a new society. A society based on information technology and new things such as electric vehicles, tourism will also expand. We have to be ready for this modernization. One should learn new languages such as Chinese and German. Learning these languages is certainly going to help. A government should secure a future for the youth and to the new generations and the national government is ready to do it. The intention of the government is to create a secured future for the people of this country so that they can be successful citizens of a modern Sri Lanka,” he added. (Yohan Perera)

Pix by Pradeep Pathirana

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Comments - 14

Truth Wednesday, 02 August 2017 07:29 AM

Sir, don't BS. Talk something realistic.

Henry Wednesday, 02 August 2017 07:30 AM

In a nut-shell ...The Premier said the government will start off paying its debts by the year 2020 and to ease the debt burden by 2025.. so far nothing paid up to now??? commence paying in 2020? [Election in 2020!] ease by 2025 - by whom??So we have to carry the burdens of Yahapalanaya plus the c/f of previous regime?

Dollar Wednesday, 02 August 2017 10:07 AM

Did you think its 1 to 2 dollars to be paid. It is 25Billions Dollars

New Governace Wednesday, 02 August 2017 02:05 PM

Its not easy! and it certainly will not be settled overnight... give it some time, we are working on it.

Hunga Friday, 04 August 2017 08:32 AM

Dollar - yes it's only a few dollars as we have to pay for 30 years on Bond Scam!

Sonali Wednesday, 02 August 2017 08:11 AM

Has he gone senile and thought that it was the 1st of April instead of Aug?

Sonali Wednesday, 02 August 2017 02:39 PM

He,he,he. Looks like there are fools who believe him.

len Wednesday, 02 August 2017 09:54 AM

If likes of Aloysius and his Father-in-law and the thieving politicians their families and friends some Government department heads return 50% of what they pilfered Sri Lank can be debt free by 2018.

lkboy Wednesday, 02 August 2017 12:07 PM

Can we be rid of politicians too?

Jema Wednesday, 02 August 2017 12:27 PM

How can you that when the parliament is infested with thieves.

Leo Wednesday, 02 August 2017 01:53 PM

seems he doesnt know that debt have arisen by 20% during these two years

Nish Wednesday, 02 August 2017 01:54 PM

How can you develop tourism with garbage filled streets, dengue epidemic and a nose diving national air line?

Fred12 Wednesday, 02 August 2017 01:55 PM

Same people who are systemically destroying local languages and culture are asking us to learn German now.

JAN Wednesday, 02 August 2017 08:35 PM

PM you everyday talking Debt done by MR but please talk about CB Bond scam Ali BABA Group currently totally Exposed to world via DM Android App

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Stage set for SL to be a debt free State: PM

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