CBSL governor adopts extreme economic strategy just as Cabraal: AKD

22 November 2022 04:38 pm - 15 - {{hitsCtrl.values.hits}}

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Central Bank Governor Nandalal Weerasinghe is adopting an extreme of economic stratergy of contracting the economy just as his predecessor Ajith Nivaard Cabraal adopted an extreme of an another stratergy, National People's Power (NPP) leader Anura Kumara Dissanayake said today.

Speaking during the second reading of the budget, he told Parliament that people's lives have been badly affected by the economic policies of the Central Bank.

He said CB Governor Weerasinghe was harping that the only solution to the economic crisis was to contract the economy.

"He is concerned on looking after the account of the Central Bank. He is claiming that the only solution to the economic crisis is to contract the economy. This has badly affected the people's lives. It does not mean that I approve Cabraal's economic stratergy. Weerasinghe's economic stratergy represents an extreme of an economic stratergy while Cabraal's economic stratergy represented an extreme of a separate economic stratergy. We need to identify the correct stratergy," he said.

Mr. Dissanayake said contraction of the economy had lost a large number of jobs, imposed unbearable taxes including VAT, social security levy and payee tax where the brain drain had remarkably increased.

He said even though Finance Minister Ranil Wickremesinghe criticised the economic policies adopted after 1977, he had proposed same policies in his budget.

"He has proposed to obtain Rs. 3 trillion of loans next year and to restructure state entities. No constructive proposal to revive the economy," he said.

He proposed several moves to come out of the economic crisis which included prolosals to obtain a new mandate, introduce new constitution, ensure efficient state service, stopping fraud and corruption. (Ajith Siriwardana and Yohan Perera)

Comments - 15

Ranith Silva Tuesday, 22 November 2022 05:26 PM

Mr AKD, Please let the governor do his job, all your socialist policies will destroy our country like how its destroying our youth. You party is struggling so hard to come into power by destroying our youth. They cant get a proper education you conduct protest at the university. THEN how can a country develop the next generation. YOU guys dont let the YOUTH study in universities. ALL your policies are PROTEST, that why our YOUTH is also begging for everything from POLITIICANS. IF YOU KEEP YOUR POLITICS AWAY FROM UNIVERSITIES our COUNTRY and OUR YOUTH will develop.

Get rid of Nandalal, push the rascal out Wednesday, 23 November 2022 08:11 AM

@Ranith Silva You complain about AKD, I think he's pathetic nationalist who's against dual citizens, corrupting with mad nationalistic ideas instead of helping the young people move into modern world. However, the Governor Nandalal Weerasinghe is also a ideological monster with his own twisted views. Too many older Sri Lankans like yourselves are over trusting the no-good policy making Nandalal.

Sandy Tuesday, 22 November 2022 05:36 PM

Central Bank governor should learn from AKD , he is capable of many things that governor can't even dream of .

Jayantha Tuesday, 22 November 2022 05:43 PM

Current governer is not a practical person. He is trying to depend fully on tax income when people are struggling.

Dee Tuesday, 22 November 2022 05:56 PM

So what's your solution? Unionize the entire country? Make everyone equal? Don't talk crap.

Nandalal Weerasinghe is financial defiler Wednesday, 23 November 2022 08:27 AM

What kind of lunatic are you. You shoot a messenger when you're in a house which is burning, and you first informed it is burning. JVPer are terrible, but they want only better economic strategy in this case. Why you so religiously support the Gota man Nandalal Weerasinghe

Janatha Vikurthi Peramuna Tuesday, 22 November 2022 05:56 PM

JVP from where AKD learnt economics thought its good to burn National ID Cards, burn CTB buses, murder newsreaders and force the citizens to switch off ligjss and stay in darkness. that's their economic policies. Since then 1988, 89 era to now no other concrete steps have been taken by the JVP other than disruptive protests and critism. They create negative mindsets.

Get rid of Nandalal, push the rascal out Wednesday, 23 November 2022 08:14 AM

Just because JVP are madmen, doesn't mean they are always wrong! Nandalal is also doing great damage to our nation right now. JVP is an important entity in politics right now, but with devil who is weakening economy like Nandalal with the fixed dollar peg, and also thorough restriction on forign dollar outflow our country is being sent to hell. Many time EU asked the dollar outflow restriction be removed. If the IMF was asked they would have said it's a poor practice, just like they criticise the dollar peg we have right now when asked.

Pantha Kumaran Wednesday, 23 November 2022 12:55 AM

Anura, please understand one thing. Our country is going thorough severe financial crisis. We all have to thank Mahinda and his family members for this downfall. There is no point and blaming this. Now we have to work with this Ranil chaps. We all know he is Mahinda's boy . Please allow Ranil to destroy us more.

Citizen G Force Wednesday, 23 November 2022 01:01 AM

Well said Ranjith Silva and Sandy is completely out of mark. AKD you have become a such real pest for the country, not that you do not know the truth but you are desperately trying to convince masses the opposite. CB seems to be bloody independent, competent and honest in decision making. AKD just wants our country to remain in doldrums, so are the other JVP idiots. JVP stop fooling masses for the sake of country

Reformist Wednesday, 23 November 2022 05:24 AM

AKD: Do you know better than the Governor? This is exactly why SL is where it is as it is full of idiot politicians who know nothing. This country will never be a developed country ever as long as its Parliament is filled with uneducated, useless and narrow minded politicians and its public service is full of bribe takers. Why bother becoming a CB Governor of such a hopeless country? That is exactly why many high caliblre professionals have left and are serving other developed and sensible countries.

Democracy Wednesday, 23 November 2022 05:59 AM

Janatha Vikurthi Peramuna, The accusation you made has no value like a coca-cola is without its gas. They embraced democracy more than 30 years ago and there were no complain that they have resorted to violence.On 9 may burning of houses, padada peramuna tried their best to debit the incident in to JVP account and the attempt was failed miserably. Please understand that this country was brought to this position by those who ruled this country for 74 years. Ultimate price they gave us was the certificate of bankruptcy.This is the bitter truth my friend.

lion Wednesday, 23 November 2022 06:02 AM

Janatha Vikurthi Peramuna, Just ignore them they only represent 3% of the voters. So dont take any notice of them.

Chumley Pinto Wednesday, 23 November 2022 06:31 AM

Why not appoint AKD as the governor of Central Bank. He should give up politics.

Governor Nandalal Weerasinghe doing financial crime Wednesday, 23 November 2022 08:25 AM

The JVP is trying to score political points. Problem is they bring up about real issues. The Governor Nandalal Weerasinghe with restricting economy is making a hard/harsh landing for our economy. Our country needs unbaised, honey, brave economists to assess these policies. The IMF were against the current dollar peg, and EU had previously complained about economic disadvantages of restricting dollar movements, especially outwards. Their businesses don't want to invest here, for dollar earning if they can't take some of the profits back to head office. Dollar outward movement restriction is not done by any advanced economy. It is only done by stupid Governor in backward nations.

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CBSL governor adopts extreme economic strategy just as Cabraal: AKD

Comments - 15

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