President stresses importance of DDO in meeting with trade unions

Saturday, 1 July 2023 00:00 - - {{hitsCtrl.values.hits}}

President Ranil Wickremesinghe on Thursday in a meeting with trade unions emphasised the importance of implementing the DDO program.

The President warned that failure to do so could lead to a potential increase in interest rates for loans obtained by small businesses. The President also expressed concerns about the possibility of the dollar’s resurgence, given the strengthening of the rupee. He emphasised that domestic debt optimisation must be conducted simultaneously with foreign debt optimisation to mitigate this risk.

President Wickremesinghe assured the trade union representatives that the law guarantees the continuation of the 9% annual interest provided to beneficiaries under the Employees’ Provident Fund. He urged them not to harbour any doubts regarding future benefits.

The Union leaders and representatives present at the discussion expressing their gratitude on the implementation of the loan optimisation program that safeguards the working class.

Prime Minister Dinesh Gunawardena, Labour and Foreign Employment Minister Manusha Nanayakkara, Minister of State for Finance Shehan Semasinghe, MPs Sisira Jayakodi, Gamini Lokage, Vadivel Suresh, Senior Advisor to the President on National Security and Chief of Presidential Staff Sagala Ratnayake, Presidential Secretary Saman Ekanayake, Economic Presidential Senior Adviser on Affairs Dr. R. H. S. Samaratunga, Prime Minister’s Secretary Anura Dissanayake, and President Trade Union Director General Saman Ratnapriya were among those who were present at this meeting.