Cabinet to revisit National Economic Council

The note presented by President Maithripala Sirisena on the formation of a National Economic Council will be taken up for discussion today.

The note proposed the formation of an advisory body on economic policy to be headed by President Sirisena, with the participation of the Prime Minister and Finance Minister.

According to sources, the proposal to form the advisory body was made for Sirisena to gain control over policymaking.

“The President is of the view that policy decisions have to be made by him. So he is going to chair the committee,” a SLFP member told Daily FT.

Discussion on the note submitted last week was postponed by the Cabinet of Ministers last week as Prime Minister Ranil Wickremesinghe requested to discuss the matter with President Sirisena prior to taking it up with the Cabinet.

According to the proposal, a Director General of the council appointed by the President will oversee functions and carry out decisions made by the members of the council. Further, it is said that the council will also have professionals as a core group to provide advice on national policy matters related to the economy.