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Thu10172019

Last updateMon, 24 Jun 2019 2pm

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PM outlines future economic plans

 

Prime Minister Ranil Wickremasinghe says a revolutionary method is required to take forward Sri Lanka's economy. Making a special statement on the future economic plans of the country in the parliament today, the Premier pointed out the present government granted many relief to the public servants by increasing their wages. It is the intention of the government to uplift the income levels of the general public. The government prepares all of its plans with this ulterior motive.

While pointing out that the international community is full of praise of the measures taken by the President and by him, the Prime Minister pointed out many countries have granted loans and aid at lower interest rates as a result of it. However, the Premier emphasized it is the aim of the government to reduce loans and to increase domestic production. After year 2012 the country's economic growth rate dropped to 5 percent. However, the present government was able to change that trend.

The Prime Minister pointed out the income disparity of the country was minimized last year and the government's revenue was increased with the help of modern technology. Investor friendly laws will be introduced to attract more investments to the country. Facilities will be provided for the local entrepreneurs to compete with the global markets.

The Prime Minister also expressed belief that Sri Lanka will be able to regain GSP plus tax concession by May next year. Agreements will be signed with countries such as India, China and Singapore to reap economic benefits. It is the intention of the government to create a better tomorrow for every citizens. Therefore, more opportunities will be given for the rural community to obtain loans and other facility. The rural development banks will be strengthened for this purpose.

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