Tag : SLP

Colombo: Sri Lanka's cash-strapped government will need at least $5 billion in the next six months to maintain basic standards of living, including some $3.3 billion for fuel imports, the country's prime minister told parliament on Tuesday. "Only establishing economic stability not enough, we have to restructure the entire economy," said Ranil Wickremesinghe, who is working to prepare an interim budget to balance Sri Lanka's battered public finances. The island nation of 22 million is suffering its worst economic crisis in seven decades, with a shortage of foreign exchange stalling essential imports. Cabinet defers 21st Amendment to the Constitution by a week: Meanwhile, Sri Lanka's Cabinet has deferred by a week the approval of the proposed 21st Amendment to the Constitution to empower Parliament over the executive president, amidst stiff resistance from some members of the ruling party. The 21st Amendment is expected to annul the 20A to the Constitution which gives unfettered powers to President Gotabaya Rajapaksa after abolishing the 19th Amendment. The draft of the proposed amendment was presented at Monday's Cabinet meeting. It was decided to approve it only after all parties agreed with the amendments proposed. It will be presented to the Cabinet next week," Charitha Herath, a government parliamentarian, told reporters. A section of the ruling Sri Lanka Podujana Peramuna party (SLPP) is averse to bringing in 21A without addressing the current economic crisis. People are facing difficulties without essentials. We will have to think of settling the economic issues first before trying political solutions," Sagara Kariyawasam, the ruling SLPP general secretary said. Constitutional Affairs Minister Wijedasa Rajapakshe was hopeful of ...