Vajira Abeywardena says Central Bank should work according to Govt. policies

 By Yohan Perera and Ajith Siriwardana  

Institutions such as Central Bank should work in line with the government’s economic policy and an investigation has to be carried out to determine whether it is going against it, UNP MP Vajira Abeywardena told Parliament yesterday.   

The Central Bank and other institutions should work in accordance with the government’s economic policy and these institutions cannot go against it. An investigation should be carried out to determine the situation,” the MP said speaking during the second reading debate on the budget.  The MP questioned as to whether Sri Lanka’s economy is run by the government or by an international force.   

 “We will have to take control of the economy if not the politicians will be attacked once again in the event of our failure to do so,” he said.  “I propose that we put a cap to control interest rates. No one can afford the current interest rates. An MP told me that he has decided to sell a land belonging to him in order to settle his loan. We have to safeguard local businessmen. Sri Lanka has destroyed business tycoons such as Upali Wijewardene in the past. People such as Upali Wijewardene would have competed with Indian businessmen if he was alive today. Late Minister of Industries C. V. Gunaratne was killed days after he signed up an agreement with an American company to manufacture fertilizer locally. They say LTTE killed him but it is not clear as to who really killed him,” the MP said.  

Also he said some officers in state institutions like Telecom claim that Telecom is earning a profit but the real situation is that an overdraft has to be taken to pay salaries to its employees.  

“It was not politicians who brought about the economic downturn, but by other interested parties,” he stressed.