PM hopes to create debt-free economy by 2020

Prime Minister Ranil Wickremesinghe says the Government has initiated a huge development program throughout the island and the public will receive the benefits of the program within a very short period.

Speaking at a ceremony held in Pannipitiya on Monday to lay the foundation stone for the second phase of the proposed Wiyathpura housing scheme for professionals, Premier Wickremesinghe said the Unity Government of the United National Party (UNP) and the Sri Lanka Freedom Party (SLFP) was working together to solve the country’s problems, despite the difficulties of making two parties work together.

Stressing the need to continue the Unity Government for the development of the country, the Premier said development projects are not implemented to get political advantage for the UNP or SLFP.

“Actions taken by the Government do not specifically benefit the UNP or the SLFP and the people will vote for the politicians based on their actions. We need to work together for the sake of the country,” he said.

The Prime Minister said the total debt the country has to repay within the next three years amounts to Rs. 4.2 trillion and stressed the need to build up a competitive market economy to pay off all the debt that is burdening the nation. He said the benefits of a competitive market economy should not be limited to the few who own industries.

The Prime Minister pointed out the need for the Government to increase total revenue, especially tax revenue, to pay the debts and create a debt-free economy by 2020. The housing scheme at Wiyathpura, consisting of 500 houses, will be constructed for the middle income employees of the state and private sector at a cost of Rs. 6 billion. The Ministry of Megapolis and Western Development, in collaboration with the Urban Development Authority, will implement the project.

Addressing the gathering, Megapolis and Western Development Minister Patali Champika Ranawaka said plans have also been prepared to set up a technical city in the Homagama area.