Harsha says Presidential remark ‘‘economy would have collapsed” is a bombshell

Wednesday, 24 April 2013 01:19 -     - {{hitsCtrl.values.hits}}

UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday described President Mahinda Rajapaksa’s remark to the effect that economy would have collapsed if the electricity hike wasn’t implemented on Monday during meeting with editors, was an “economic bombshell”.

“If the President who is also the Minister of Finance had said the economy would have collapsed if the CEB tariffs weren’t increased and in the process hitting the poor, then it is a serious crisis situation.

It also contradictory to what the Central Bank Governor Nivard Cabraal has been trumpeting about how well the economy was doing,” Dr. de Silva alleged.

The UNP MP also opined that if the President is misinformed about the economy or spreading false information then the Central Bank hired advocacy firm Thompson Advisory Group must start its specialist job from Sri Lanka and with President Rajapaksa, than in the US.

The latter reference by de Silva was following the Central Bank securing services of a competent international firm to assist in the effort to convey the true and factual position regarding Sri Lanka and its economy, particularly in the USA.

This is in view of Central Bank in recent times observing an aggressive and well-funded misinformation campaign that is being carried out by various groups with dubious agendas, both locally and internationally, to tarnish the political image and true economic successes of Sri Lanka.

The Central Bank also said it was of concern that if such a campaign continues without a counter campaign to correct the misconceptions, it may have the potential to create a highly-detrimental image for Sri Lanka and erode the growing confidence of international investors in Sri Lanka.

Since such an outcome would adversely affect the country’s economy and its economic and financial system stability, the Central Bank said it has embarked upon a robust local and international awareness program to refute such misinformation, and to provide the factual position of the economy and the political environment to all relevant stakeholders.