TU action held to sabotage IMF bailout: Bandula

The main objective of the strike launched by a cross-section of trade unions is not to win demands but to sabotage the program to obtain an Extended Fund Facility (EFF) of US$ 2.9 billion from the IMF, cabinet Spokesman, Media, Transport and Highways Minister Dr. Bandula Gunawardana said today.

The trade union action by teachers demanding to increase the payments for marking the GCE A/L answer scripts to Rs 3,000 came under heavy criticism by Minister Dr. Gunawardana who said the demand was extremely unfair, indecent and treacherous.

Explaining the government’s strategy after the IMF released the first tranche of the EFF of US$ 2.9 billion, the government expects further financial assistance from the ADB, the World Bank, and JAICA fattening Sri Lanka’s foreign reserves to nearly US$ 10 billion. 

This will help to further appreciate the rupee, drop CoL ratio to a single digit and improve confidence on Sri Lanka among global financial agencies, creditors and investors which will user in a booming economy. 

The first and foremost beneficiaries of the resurgence of the economy will be public servants. Therefore, they must be patient for another few months to enjoy the dividends of the government’s economic policy, he added.

Minister Gunawardana said the IMF board is scheduled to meet and approve the EFF for Sri Lanka on March 20th. The ongoing trade union action is aimed at undermining IMF program.

He made an appeal to striking trade unions not to engage in treacherous and betrayal acts by demanding unfair demands at this difficult time and added the government would pass the benefits of expected economic boom in full to the public in the next few months.(Sandun A Jayasekera)