SJB vows not to let govt offset loan obligations to China by giving away national assets

By Saman Indrajith

The main opposition SJB vowed in parliament yesterday that it would not let the government sell the national assets to redeem its loan obligations to China.

Chief Opposition Whip and SJB MP Lakshman Kiriella participating in the debate on interim budget said that even if IMF extended its assistance it would be only three billion US dollars and that amount would not suffice to cover the loan obligations of the country. “We need 12 billion US dollars per year to settle loans until 2025. How is the government going to cover the balance? Are they planning to give away national assets to redeem the loans to other countries? China too has recently stated that they were ready to take over those assets in place of defaulting loans. China had done so in other countries. The Southern Expressway, the Mattala Airport and the Katunayake Expressway are to be given away,” Kiriella said, adding that the main reason for the present crisis was the loss of foreign exchange reserves. “Does this interim budget envisage how to bring in dollars? There is no single word on such a plan.”

Kiriella said that an election was the need of the hour. “Rather than making plans to stay in power, the government should allow the people to elect a governmenet. The international community prefers to work with a legitimate government. The government must understand that not even a bankrupt company would be entitled to a loan from a bank if they do not change the board of directors. This government comprises the makers of this crisis. The government has failed to implement political and economic reforms it had agreed to. Even the diplomatic community in Colombo has asked the government to implement political and economic reforms. The Mahayanaykes and other religious leaders are asking for that. The Aragalaya activists are demanding for that. Prof GL Peiris said on Wednesday that the public opinion was no longer represented in this parliament. The government may have numbers but that does not mean it has legitimacy. A poll by a newspaper shows that 88 percent of people say no to Ranil Wickremesinghe. You cannot run a country by appointing leaders as in a musical chairs contest. They have elected a team from the very same politicians who led the country to the present crisis.”