The National Council Sub Committee on Economic Stability has determined that Sri Lanka has been too late to seek IMF assistance.
Chairman of National Council Sub Committee on Economic Stability MP Patali Champika Ranawaka who presented the initial report of the subcommittee to media said the inquiries made by the committee has revealed that Sri Lanka has been too late to seek IMF assistance.
“Sri Lanka has made the mistake by seeking IMF assistance when its foreign reserves were at zero level. IMF assistance will come only during the second quarter of 2023, if Sri Lanka manages to get it,” the MP said.
It was also revealed that Sri Lanka’s debt has reached 120% of the GDP.
“The World Bank and Asian Development Bank has informed that they will assist Sri Lanka only if the nation performs well in the future,” he said.
Coming up with another staggering disclosure, he said 12% of Samurdhi beneficiaries are the ones who are among the richest 20% among the population.
“We have therefore recommended setting up of a social security database,” he said.
“The subcommittee on economic stability had recommended allowing those who can generate power by themselves to produce their own power. Therefore we have recommended removal of top 20 consumers of electricity from the Ceylon Electricity Board (CEB) supply network. Also we have recommended setting up a common platform for transportation. The bus services operating along expressways should be linked with others such as Urber so that a person can book a bus plying along the expressway and an Urber or PickMe taxy together through his mobile. Then he can book a taxi and get into it after exiting the expressway,” the MP said. (Yohan Perera and Ajith Siriwardana)