Sun, 25 Sep 2022 Today's Paper

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

8 March 2019 10:33 am - 0     - {{hitsCtrl.values.hits}}

A A A

  • Says Rs.5 trillion loans obtained

 

By Ajith Siriwardana and Yohan Perera  


UPFA MP Namal Rajapaksa said yesterday 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 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 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.  

 

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

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Sri Lanka’s 60 Shades of White

Parliamentarians—so-called supreme legislators—wear white, the colour of

To benefit of our next generation We must conserve our environment

There is no doubt that the economic crisis which Sri Lanka is facing at the m

How shortsighted and greedy Govts. destroyed agriculture

According to the latest World Bank assessment Sri Lanka ranks fifth among cou

The Queen: End of a long-ended era - and new world order

The Queen is dead. With her, the Second Elizabethan era came to an end. Duri

MIRROR CRICKET