Key components from PM's speech in Parliament (Video)

Thursday, 23 June 2022 - 9:13

PM Ranil Wickremesinghe in a tweet highlighted 16 areas from his statement in Parliament. The highlighted areas are given below;

1. Since I was sworn in as PM, I have been updating you on the real situation and measures we have been taking every 2 weeks. Some have ridiculed this while others have welcomed it. Whichever group you belong to we need to come together to rebuild our country.

2. The first step is to arrive at an agreement with IMF to obtain an additional credit facility. Next is to go for an immediate programme to stabilize the economy & increase our export revenue. CBSL , Treasury, relevant government officials & professionals have formulated a plan

3. If Political parties have better, more practical and favorable plans they could present them in parliament. We are prepared to provide them with the necessary space and opportunity.

4. The new cabinet decided to revert back to the 2019 tax system and agreed to ensure a primary surplus in the National budget by 2025.

5. The main IMF team is in Sri Lanka and discussions are ongoing. We have concluded the initial discussions and we have exchanged ideas on various sectors such as public finance, finance, debt sustainability, stability of the banking sector and the social security network.

6. Representatives of the financial and legal advisory firms Lazard and Clifford Chance are now in Sri Lanka and the framework for debt repayment restructuring is being formulated. Next Monday, a team of representatives from the US Treasury will arrive in Sri Lanka.

7. Parallel to discussions, we are organizing a Credit Aid Conference led by India, Japan and China. We would be looking at resolving past conflicts and disagreements and fostering friendly relations once again. We hope to arrive at a general consensus on the lending processes

8. A plan has been formulated to provide farmers with the necessary fertiliser for the next cultivation season. We will take steps to import rice under an Indian credit line and issue stocks to the market to ensure price controls. This will provide some relief to consumers.

9. The cabinet approved the 21st Amendment and the final draft will be presented to Parliament. Unfortunately the process will be delayed due to the boycott of parliament by the SJB & NPP.

10. On my request, Former speaker @KaruOnline has handed over his report on the newly proposed parliamentary committee system on Monday. I request SJB and JVP to attend parliament to expedite the passing of the 21st amendment and finalize the new parliamentary committee system.

11. We have been able to reduce the span of the power cuts. We will also be able to eliminate the gas shortage once we receive the 7 Million LPG cylinders stocks for which a World Bank loan of USD 70 million and USD 20 million of our own reserves have been allocated.

12. However, resolving the fuel shortages will take some time as we are experiencing difficulty to secure our monthly fund requirement of USD 550 Million for fuel. Nevertheless, we will take all steps possible to import the maximum fuel stocks possible based on our dollar income.

13. We are aware the country’s schools education has collapsed as a result of this crisis. The relevant authorities are taking necessary steps to address this, including the formulation of a plan to give priority to school buses and school vans when providing fuel.

14. Once we have established a firm economic foundation you can elect 225 suitable representatives to parliament and choose whichever political party to place in power at an election. The responsibility and power to do so lie with you, the citizens of this country.

15. The world will only assist us if they sense a strong urge and dedication on our part. We can show them our aspiration as a nation to rebuild our country or we can display our indifference and disinterest, through committing various acts of sabotage.

16. Your struggle must be one for rebuilding and uplifting our country. It should not be to destroy our country. Step by step, let us go forward.


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