President Ranil Wickremesinghe says the privatization of loss-making entities is one way to help revive Sri Lanka’s economy.
The President said that the privatization of loss-making entities such as Sri Lanka Telecom (SLT) and The Hilton Colombo is the only option to revive the cash and foreign exchange-strapped economy.
He said the privatization of such loss-making entities would also strengthen the Sri Lanka rupee.
President Ranil Wickremesinghe made the remarks while participating in an online dialogue with youths on the Budget 2023.
The President further said that it is his aim to lay the ground for Sri Lanka to strengthen its economy and progress along with developed nations.
Referring to a trend among youths to leave for greener pastures, he noted that they were unhappy with the prevailing political system.
Assuring that Sri Lanka will definitely be taken to prosperity, he said that no one should leave the motherland in search of better prospects, adding that an appropriate economic system should be created expeditiously to fulfill their aspirations.
Replying to a question on the management of state expenditure, the President said the Budget 2023 has proposals to appoint new financial supervisory committees as well as to strengthen the existing House committees.
On the matter of public servants, he said the burdensome unnecessary recruitment by successive governments was a reason for the prevailing economic woes.
President Ranil Wickremesinghe also warned that payment of pensions for a considerable number of public servants retiring by 2035 will be a serious matter despite economic progress.
The President further assured that ragging will be eliminated from the university system without affecting the rights of the students. (NewsWire)
