The Government has to explain the people as to how it would implement the clauses in the Policy Statement presented to Parliament on August 20, 2020, Opposition Leader and Samagi Jana Balawegaya leader Sajith Premadasa said yesterday.
He said that the Policy Statement has commendable moves but they are difficult to implement. He made these observations joining the debate on the Policy Statement in the Parliament yesterday.
He said further that the country is facing a high inflation rate at the moment.
It is estimated that the inflation rate would reach 20 or 22 percent in the next two years, which is an economic catastrophe. Inland Revenue has dropped to 8 percent from 13 percent.
The Government lost a tax income of Rs. 600 billion due to the decrease of the tax rates. The economic development rate has dropped to minus during the first quarter of this year. How can the Government achieve development goals with this minus development rate, he asked.
One solution for economic development is to attract foreign investments to the country.
However, the government has no mechanism to attract investors from China. Due to import controls, there is a shortage of cars, turmeric and batteries in the market.
