Minister of Energy Udaya Gammanpila has asserted that debt was the true cause for the Forex crisis in Sri Lanka and not the coronavirus pandemic.
Speaking at the National Industry Exhibition held at the BMICH in Colombo yesterday, he said the crisis will take time to be rectified, pointing out that the Dollar crisis will not be resolved even after the pandemic.
Stating that Sri Lanka has obtained loans to close the gap between income and expenditure, the Minister said that Sri Lanka needs to repay the loans with interest and has obtained the loans without considering how they will be repaid.
The Minister revealed that the coronavirus pandemic only expedited the Forex crisis for Sri Lanka, while he rejected claims that once the tourism industry recovers the crisis will be resolved.
In a bid to help resolve the crisis, Minister Udaya Gammanpila has announced a 5-point proposal to overcome the economic crisis.
Following is the 5-point process proposed by the Minister.
- Accept there is an issue.
- Identify the issue.
- Understand the issue
- Reveal the truth to the people.
- Leaders must lead by example and show the sacrifices to the people.
(NewsWire)