Home / Front Page/ Debt may worsen after attacks: JVP

Debt may worsen after attacks: JVP


Comments / {{hitsCtrl.values.hits}} Views / Friday, 10 May 2019 00:20


 

 

  • JVP warns Govt. economy will worsen after Easter Sunday attacks 
  • Says even the questionable investors will stop 
  • Govt. should not impose more taxes
  • Calls for assistance for affected industry employees

Opposition lawmaker Sunil Handunnetti yesterday warned the Government that the Easter Sunday attacks will create more pressure on the economy, and called for steps to assist affected industries.

Opposition lawmaker Sunil Handunnetti



According to the recently released Annual Report of the Central Bank of Sri Lanka, the Total Outstanding Central Government Debt, which was Rs. 10.313 billion in 2017, has increased to Rs. 11.977 billion in 2018. “This increase is not due to the Easter Sunday attack. As a percentage of the GDP, it has gone up from 84% to 91%. Otherwise, the Government will make use of the devastation of the attacks to increase the prices and taxes. All Governments used terrorist attacks to cover their inabilities. But these attacks will further increase it,” he said.

Highlighting the Unity Government’s incompetency to attract genuine investors since January 2015, Handunnetti held the period immediately after the LTTE war enabled Sri Lanka to receive genuine investments for a short period of time.

“Easter Sunday attacks only expedited the fall of our economy. We received black money as investment to this country, but that too has stopped. The real development was reported only after the end of the war. Now we have a problem that has no time limits. The Government should not try to put the blame entirely on the Easter bombers,” he said.

Moving on to the tourism industry now at the rock bottom, Handunnetti proposed the Government to introduce a compensation mechanism to cover the employees who would be sure to lose their income with the fall of tourist arrivals.

“The tourism industry has taken a hit. The direct and indirect employment has started to experience difficulties. It is true that the Government reduced the VAT on the tourism industry to 5%. But a report should be made to include all employees, enabling them to receive an incentive,” he added. (AH)

 

Move to let SOEs borrow in foreign currency

 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Forensic Audits part of bond scam cover-up

Saturday, 25 January 2020

From the time the bond scam was carried out by the Ranil Wickremesinghe administration, that administration under the guidance of the former Prime Minister had been avoiding the law by regularly bringing up various distractions so that the true natur


Halting mega projects is untimely; Govt. can explore other options

Friday, 24 January 2020

In a Sunday newspaper on 5 January a news item titled ‘Mega projects on hold until August budget,’ ‘Drop in revenue after tax reductions prevents spending on major constructions,’ was not a development-friendly headline. It may be accurate o


Is any further expenditure on the Port City a waste of money?

Friday, 24 January 2020

Erase from the mind all that you have read and heard about it. Then take a blank piece of paper, draw an irregular circle, and draw a line to divide it into two. On the bottom half write 300 acres. That is our Port City! To get the size into a proper


Foundations of incivility

Friday, 24 January 2020

The lack of advanced political consciousness and democratic discipline can be considered as one of the main reasons for the crisis and the failure that Sri Lanka is facing. This can be considered a situation that has prevailed since independence. Sri


Columnists More