IMF should ensure that monies lent to SL are utilised for proper purposes: GL

Colombo, June 2 (Daily Mirror) - The Joint Opposition said yesterday that the International Monetary Fund (IMF) had a responsibility to ensure its monies lent to Sri Lanka are utilised for proper purposes.

Addressing a regular press conference, former External Affairs Minister Prof. G.L Peiris said that there is accountability in that regard, instead of pressing ahead with the attitude that it was lending money that would be collected back with interest.

“This is money that has to be repaid by the people of the country. Therefore, they have a responsibility to ensure that their monies are utilised for the purpose for which they are intended,” he said.

Referring to the current global crisis, he said that Sri Lanka is not the only country affected, but it was dealing with the situation in a manner in contrast to other countries battered by it.

“The Japanese Prime Minister is on the air every day talking to the entrepreneurs, the business community in particular, regarding voluntary methods that they can use to minimise the effects of this. In Singapore, if you follow their media, the senior ministers are spending the greater part of the day interacting with the public. Indian Prime Minister Modi has put forward four concrete suggestions. In Australia, in three Australian states, they have allowed free travel on buses and trains for a limited period. On the contrary, in Sri Lanka, we are resorting to a policy of deception. We are avoiding the issue. We are trying to pull the wool over the eyes of the people,” he said.

In regard to cyber thefts that resulted in the loss of money for the government, he alleged that the Government was attempting to downplay the seriousness of the current crisis by creating a false impression that lost public funds could be recovered. He argued that there was little prospect of recovering the money and accused the authorities of lacking transparency and sincerity in addressing the issue.

He referred to the importation of luxury vehicles, including limited-edition custom-made cars purchased by some of the world's wealthiest individuals, and questioned the rationale for permitting such imports at a time of economic strain.

He alleged that the Government had facilitated the conversion of large sums of rupees held by wealthy individuals into foreign currency, enabling them to purchase helicopters.

“Now those are the dollars that are required for urgent imports. So those are the dollars that are now permitted for the import of these luxury cars, helicopters and so on. So what are the priorities? Is it the need to look after the super-rich or the everyday needs of the poor?” he questioned.

United Republic Front Leader Patali Champika Ranawaka said there will be a further fuel hike and a power tariff hike as the IMF-approved funds for the concessions for power and the fuel sector are running out. He said only $ 57 billion has been allocated for the fuel concessions.

Former MP Rajitha Senaratne said there is no capable person in the current government to carry out a successful negotiation with the IMF. “Former President Ranil Wickremesinghe did not agree with every condition put forward by the IMF, but managed to bring about a favourable situation for the country.

Former MP Duminda Dissanayake also alleged that the current government does not have a capable team to handle the economy.