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Last updateWed, 02 Jan 2019 3pm

Local News

The President says that it is uncertain what happened to the sum of 90 billion rupees of foreign loans obtained during the Rajapakse regime.

President Maithripala Sirisena says Sri Lanka has obtained ten trillion rupees of foreign loans during the ten years of the previous regime. However, only one trillion rupees have been mentioned as assets. There is no document for the rest of nine trillion rupees of loans.

At a discussion held with journalists at the President's House this morning, the President said that the leaders of the previous regime have destroyed a huge sum of money and even a special commission cannot count the amount they have wasted.
The President further said that a major problem in Sri Lanka economy is that the state income is seeped into various sectors through indirect manner. The process of re-export has also become a major problem in the economy. The market for pure Sri Lankan tea has collapsed due to mixing with imported tea and re-exportation. At the retailed market traders make excessive profits causing immense hardships to consumer.
In addition, only 50 to 60 percent money allocated for the government institutions by the budget is spent during the year. This is mainly due to improper management . This is the first time an islansdwide local government election will be held since the end of war. However, some elements are attempting to disrupt it by misleading the university students to start protest campaigns.

The President said that some elements exploit innocent new under graduates to gain political mileage through such activities. The government has taken maximum measures to solve the SAITM problem. Now there is no institution in the name of SAITM. It is now an issue to be decided by the courts.
The President further said that it is pathetic that the manner how under graduate Buddhist Samaneras behaved in protest campaigns. The President further said that some groups agitated to table the bond commission report in parliament. Both the bond commission report and reports of the commission on serious frauds were tabled in parliament.

It is ridiculous that the agitating elements are now silent to debate the reports. The President said however, he will call a meeting for all party leaders on Monday and revealed all the information regarding the commission reports. The president also pledged to provide a fair solution for the Colombo city people in development sector. Many development programmes will be carried out in Colombo city to improve the living standard of the people.