Speaker proposes how to steer SL out of crisis

Speaker Mahinda Yapa Abeywardena has handed over a set of proposals to Prime Minister Ranil Wickremesinghe, spelling out how to resolve country’s economic crisis.The proposals made by the Speaker pertain to a number of important sectors and highlight the importance of providing relief to low income groups.

The Speaker has said Sri Lankans working or doing business overseas or foreign investors depositing USD 100,000 with the Central Bank for a period of two years should be paid a 10% interest per annum in Sri Lankan rupees and allowed to credit the interest to any account preferred by the depositor. He also proposes that the government issue a vehicle import licence worth USD 25,000, six months after an individual makes a fixed deposit while also allowing him to pay a standard tax of USD 10,000 to the government for that vehicle.Speaker Abeywardena has proposed how to reduce energy costs, release adequate stocks of LP gas to the market, boost domestic production food production, stabilise the banking system.