(UTV | COLOMBO) – Sri Lanka’s economy is slated to suffer a major breakdown soon as a result of wrong economic policies, former Minister Patali Champika Ranawaka alleged yesterday.
Mr. Ranawaka told a press conference that Sri Lanka will suffer economically if the country uses its foreign reserves to settle external debt.
“Sri Lanka’s foreign reserves stood at $ 7.2 billion when we handed over the government in 2019. However, the government claimed that we handed over an empty treasury. The present regime is using the foreign reserves to meet the external debt services. Foreign reserves are usually used for import expenditure,” Mr. Ranawaka said.
“Several sectors including the vehicle importers are suffering with the extension of the ban on imports which was introduced during the pandemic period,” he added.
Also he alleged that both diesel and petrol comes to the Kolonnawa reserves at Rs 50 a litre, however diesel is being sold at Rs. 104 and petrol at 137 a litre.
SJB National Organiser Tissa Attanayake who also participated in the press conference said Sri Lanka is to face a major economic crisis if it fails to ensure that there is an adequate inward flow of funds in line with the printing of money.
SJB pledged to come up with massive concessions for the people if elected to power and to reduce utility bills.