The Advisory Committee appointed to assist the National Economic Council has made five recommendations that need to be implemented immediately.
The members of the Advisory Committee met President Gotabaya Rajapaksa and members of the National Economic Council for the first time this morning (21) and presented the set of proposals.
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The President appointed a 16-member Advisory Committee on March 15 to assist the National Economic Council in finding solutions to the prevailing economic issues.
The proposals are;
1. Immediate appointment of a Technical Team consisting of officials representing the Central Bank and the Treasury to formulate programmes proposing international financial assistance.
2. Appointment of a financial advisor immediately and a legal advisor.
3. The Technical Team should immediately come up with a reform programme to propose international financial assistance.
4. Identify an expert team to assist the Finance Minister.
5. Focus on confidence-building measures after solving supply related issues.
The Advisory Committee further recommends that immediate and long-term measures be taken to stabilize and strengthen the economy.
Sri Lanka has to face the repercussions of the adverse impact on the economies of many countries around the world. The foreign exchange crisis is the main reason for this situation. The Advisory Committee is confident that the economic crisis can be solved in the short term by properly managing the challenges.
Prime Minister Mahinda Rajapaksa, Ministers Basil Rajapaksa, Bandula Gunawardana, Mahindananda Aluthgamage, Central Bank Governor Ajith Nivard Cabraal, Secretary to the President Gamini Senarath and members of the Advisory Committee were also present.
Related: Advisory committee appointed to advise National Economic Council