By Year 2028 Sri Lanka’s Incurred Debt will be increased to additional 6$ Billion…

In a press conference held at Matara by NPP (National People Power) a Ruhuna University Faculty of Economics Dr. Nandasiri Keembiyahetti has demonstrated and pointed out that the present government’s financial decisions are not taken necessarily towards the benefit of the Sri Lankan citizens as they are pretending to be.

He further clarified in great detail that IMF lead financial assistance (Debt Restructuring Program) towards Sri Lanka is expected to be in operation till the year 2028. And According to the data and what the Sri Lankan government has agreed upon, Sri Lanka Presently owes 84$ Billion Debt to its borrowers. How ever by the beginning of the year that amount has actually reached if not being increased to 91$ Billion.(while debt restructuring process been taking place)

However, by 2028 as a result of this debt restructuring process previous borrowers expect to attain 14$ billion from Sri Lanka so, our debt should be reduced by that amount (14$Billion) eventually.

But Unfortunately By 2028 Sri Lanka will be incurring additional (borrowing) 20$Billion. And while our debt is being reduced by 14$Billion we indeed have borrowed more than we have paid off. So at the end what we will be left with is an additional 6$Billion being incurred to a new line of creditors. And this is what the government has agreed upon with the IMF.

Speaking at the same press conference Parliamentarian Mr. Sunil Hadunneththi had said People must not misunderstand that the president Ranil Wickramasinghe has not necessarily ended the cues for fuel and for essential items rather people have adapted to live and to consume less. “It is irrelevant who will be in charge of the Presidency. Whether it is Mahinda , Ranil, even our very own leader Anura himself. The government needs an income to sustain itself. But what is taking place with this government is, it is making its income through the suffering of its people relentlessly and mercilessly. Present government does not care about the suffering and hardships of the people.

He further said an individual who had made tax payment around 17 000 now had been forced to pay well over 100 000. This situation and reality is completely outrageous. And this is the fundamental reason that so many of Sri Lanka’s high income earners are leaving the country all together with their families.

What the government should be doing is not increasing the taxes on these educated high income groups, rather do what is necessary to keep them within the country itself, so the nation can benefit from their financial and intellectual abilities.  What is the president and the government is doing is completely its opposite.