Mangala promises to rebuild economy, meet development goals

• New Finance Minister reaffirms he will champion private sector as the engine of growth
• Assures in Parliament a new wave of reforms
• Says humbled to take on a post previously held by the likes of J.R. Jayewardene, N.M. Perera, Felix Dias R Bandaranaike and Ronnie de Mel

Newly-appointed Finance Minister Mangala Samaraweera yesterday assured Parliament that all efforts will be taken to rebuild the debt-ridden economy and meet development goals. 

According to Minister Samaraweera, the private sector will propel the economy and will be his main focus.

The Minister aims to lead Sri Lanka onto the high rung of being a hub of the Indian Ocean by 2020 under the guidance of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe and will roll out a new wave of reforms which will take the country forward as a modern, dynamic and democratic economy. 

Samaraweera said that one of his primary objectives will be to transform the Treasury and put efficient and sound economic policies in place.

Moving seven resolutions under the Appropriation Act for approval of the House to give effect to budgetary revisions, he said: “In January 2015, we inherited an economy in shambles. It was no different to the Meethotamulla garbage dump. Financial discipline was completely ruined due to crony capitalism and dictatorial rule. For the last two years, my predecessor Minister Karunanayake, under the leadership of the Prime Minister, made great efforts to bring the economy back onto the right track. We regained the confidence of the international community. Our leaders are now well-received anywhere they go in the world.”

 “On one side there was a heap of dead bodies of journalists, of children who were demanding drinking water and others. The country was isolated by the international community. The UN was forced by its members to conduct an investigation against us without our consent. Then there was another mountain of loans amounting to Rs. 8,503 billion. There was no financial discipline and the Treasury had been empty. We are now been able to put the country’s economy on track again. The former President had to hide in a bread van to reach a foreign airport to avoid protestors. Our fishermen lost the opportunity to sell their products to Europe. Before the completion of two years, we managed to obtain GSP+. We have been able to eradicate the stench emanating from the mountain of dead killed during the previous regime. Last March, 48 other nations stood with us to vote for us to secure GSP+,” added the new Finance Minister.

Highlighting the achievements made during his tenure at the Foreign Ministry, the Minister thanked the President and Prime Minister for the trust placed upon him in assigning him the responsibility of being in charge of the economy. 

“I thank the President and Prime Minister for the confidence placed in me to hand over this portfolio that entails a great responsibility. Considering the political stature of my predecessors such as Ronnie de Mel, N.M. Perera, Felix Dias Bandaranaike and J.R. Jayewardena, I even felt that these shoes are much too big for me to wear. However, I will commit myself to implement the economic reforms needed and save the country from the debt trap it is in,” he added.

However, UPFA Joint Opposition MP Dullas Alahapperuma stated that that recent Cabinet reshuffle was a result of the President’s doubts over foreign policy. 

“However, there is another matter pertaining to the Cabinet reshuffle. President Maithripala Sirisena said that he opted for a Cabinet reshuffle because he needed to see the country moving forward. Does this mean that he could not take the country forward with Mangala Samaraweera as the Foreign Minister?” queried Alhapperuma.