Prime Minister Ranil Wickremesinghe asserted the need for Sri Lanka to return to the tax system of 2019 so that the ongoing strain on the economy eases.

The premier, in a tweet earlier today, implied that the government cannot continue to absorb the shocks arising from poor performing SOEs, therefore requires a steady flow of government revenue.

“Many government agencies lack financial management and have not adhered to treasury guidelines. The government is unable to cover the losses of State-Owned Enterprises and the debt burden cannot be borne by State Banks. We need to return to the 2019 tax system to recover,” tweeted the Prime Minister.