Basil assures relief to people via better economic management

Monday, 19 July 2021 03:11 - - {{hitsCtrl.values.hits}}

Recalls during the war, reserves were only $ 1.2 b, whereas today, they are $ 4 b

Finance Minister Basil Rajapaksa

Newly-appointed Finance Minister Basil Rajapaksa on Saturday assured relief to people and forex stability amidst the COVID-19 pandemic via better economic management.

Addressing a meeting of heads of Provincial Councils, Basil said the Government has prioritised the reopening of the country, and with sound management, the economy will be revived and relief extended to people.

“During the war, at one point in time, the country’s foreign reserves fell to $ 1.2 billion, whereas today, we have $ 4 billion. We will overcome the prevailing foreign exchange distress through proper economic management,” the Finance Minister said at the meeting held at Temple Trees.

Basil alleged that false propaganda has affected the rupee but affirmed that he is ready to face any situation.

He said that both local and foreign sources of revenue were blocked as a result of the intermittent closure of the country due to the spread of COVID-19 since March last year.

It was pointed out that in the interest of reviving the economy, the country was re-opened and restrictions eased along with rapid vaccination.

Basil also expressed confidence in managing the duties of the party, whilst fulfilling the responsibilities as the Finance Minister.

The heads of Local Government institutions briefed the Finance Minister on the challenges faced by them on development initiatives and outlined new projects underway.

Ministers Janaka Bandara Tennakoon, Pavithra Wanniarachchi, Johnston Fernando and Rohitha Abeygunawardena, State Ministers Nimal Lansa and Roshan Ranasinghe, and other Local Government heads and officials were present at the discussion.