April 02, Colombo (LNW): Finance State Minister Shehan Semasinghe underscored President Ranil Wickremesinghe’s leadership in managing the country’s economic crisis effectively during a press briefing at the Presidential Media Centre.
He emphasised the necessity of continued leadership under President Wickremesinghe, highlighting his unique expertise for the task.
The State Minister announces plans to conduct a follow-up survey following the distribution of relief benefits to 2.4 million “Aswesuma” recipients.
Semasinghe elaborated on the plans for the second phase of “Aswesuma,” anticipating around 400,000 submissions.
The State Minister further emphasised the importance of revaluation surveys for previous applicants and comprehensive surveys for new submissions to ensure appropriate beneficiary selection.
The State Minister outlined plans for a post-selection survey on the utilisation and impact of “Aswesuma” funds.
He acknowledged the positive economic turnaround, attributing it to collaborative efforts between President Wickremesinghe’s administration and financial institutions like the International Monetary Fund (IMF).
Semasinghe highlighted a decrease in inflation and stabilisation of prices, indicating progress towards economic balance.
While praising President Wickremesinghe’s leadership amidst economic discussions and criticisms, Semasinghe refuted the notion that anyone could effectively govern the nation.
He added the importance of staying the course with current economic strategies to achieve a projected 2 per cent economic growth rate in 2024.
Semasinghe addressed public concerns about reduced prices not reflecting in retail prices due to unregulated black market prices.
He also announced plans for a weekly notification system for wholesale prices to enhance transparency and aid public understanding of retail prices.
Moreover, he noted progress in the debt restructuring programme, with the second review with the IMF approved at the staff-level. However, Semasinghe acknowledged challenges in obtaining the third instalment.
