Advisory Committee makes 5 recommendations to Economic Council to be implemented immediately

The Advisory Committee consisting of corporate leaders, economists and academics appointed to assist the newly-formed Economic Council chaired by President Gotabaya Rajapaksa has made five recommendations that need to be implemented immediately. The members of the Advisory Committee met President Gotabaya Rajapaksa and the members of the National Economic Council for the first time yesterday morning and presented the set of proposals.

The proposals are immediate appointment of a technical team consisting of officials representing the Central Bank and Treasury to formulate programmes proposing international financial assistance, appointment of a financial advisor immediately and a legal advisor, technical team should immediately come up with a reform programme to propose international financial assistance, identify an expert team to assist the Finance Minister and focus on confidence-building measures after solving supply-related issues.

The Advisory Committee further recommended that immediate and long-term measures should be taken to stabilise and strengthen the economy, a press release issued by the President’s Media Division said.