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Namal alleges govt. incurred loss of Rs. 1,000 bn

7 March 2019 10:47 pm - 13     - {{hitsCtrl.values.hits}}

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UPFA MP Namal Rajapaksa said today the government had incurred a loss of Rs. 1000 billion due to its poor economic management while the previous government spent only Rs. 300 billion to construct the Hambantota Port and Mattala Airport.

He told parliament that the government had not been able to control the depreciation of the rupee against the dollar, which had resulted in the loss.

He said Mahinda Rajapaksa's Government obtained only Rs. 5 trillion as loans for ten years but this government has obtained Rs. 5 trillion in just four years.

"This government has done no development with such huge amount of loans. We can show the development we did with loans obtained by us," he said.

Commenting on the loan schemes proposed in the budget proposals, he said the government should strengthen the banking system while keeping the interest rate at one digit rather than introducing loan schemes.

"If a youth is to obtain the proposed Rs. 10 million loan, he has to earn a monthly salary of Rs. 100,000. The monthly installment will be Rs. 64,000," he said.

He alleged the government has taken steps to cut down on funds for development projects as requested by the IMF to reduce the budget deficit to 3.5 per cent from the Gross Domestic Product by 2020.

"Even the President's Grama Shakthi programme was allocated only Rs. 500 million," he said. (Ajith Siriwardana and Yohan Perera)

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  Comments - 13

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  • das Thursday, 07 March 2019 11:29 PM

    The rupee depreciated faster when your daddy was the illegally appointed PM

    George Harry Thursday, 07 March 2019 11:36 PM

    Honored sir, these guys have forcibly been staying in power to ROB the country. They robbed and Messed up the life of the innocent people.

    Jeevan Thursday, 07 March 2019 11:39 PM

    This idiot does not understand that there is a thing called cost escalation with passage of time. What does a synthetic lawyer know.

    Ragitha Friday, 08 March 2019 12:11 AM

    Mathematics or Economics is not your strong point....

    Jude Friday, 08 March 2019 01:16 AM

    When Politicians in Opposition, they sounds geniuses with very bright ideas and brag about HOW they managed the economy well !!! Huh!!!

    Jack Friday, 08 March 2019 05:29 AM

    Baby, think about your dad

    Andrew Silva Friday, 08 March 2019 06:07 AM

    Nothing new namal baby, every Sri Lankan government is run by crooks and poor mother Lanka suffers. Do they care? No-No-No.

    channa Friday, 08 March 2019 06:22 AM

    Good that you know the figures . I'm waiting to see the comments coming up just bashing the previous government . Yes previous government did some development projects after winning the war though they did stealing , But the guys in power did nothing but robbing with poor handing of economy

    Venom Friday, 08 March 2019 06:35 AM

    I thought Bandula's tuition class was banned!!!

    Tilvin Friday, 08 March 2019 07:04 AM

    300 billion for a Mattala port that relies on all essential material shipped from Colombo to survive? What kind of asinine logic is this mutt talking?

    Thomas Sam Friday, 08 March 2019 08:49 AM

    You missed the loss caused to the country by your father appointing himself as a rouge Prime Minister for about 2 months and the country plunged to deep debts

    BuffaloaCitizen Friday, 08 March 2019 09:08 AM

    When you wake in the morning after sleeping with Bandula, this is what happens.

    TONY Friday, 08 March 2019 09:46 AM

    NAMAL DO YOU KNOW HOW MUCH GOVT IS LOSING AFTER YOUR FATHER CANCELLED MANAGEMENT AGREEMENT WITH EMIRATES. ALL THIS IS WORSE THAN THE BOND SCAM AND HE SHOULD BE RESPONSIBLE TO MEET THESE LOSSES


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