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* Government laid necessary foundation to free country from debt burden this year - PM
Wed, Dec 21, 2016, 08:50 pm SL Time, ColomboPage News Desk, Sri Lanka.

'Finance Ministry was like a time bomb ready to explode when we took over'

Dec 21, Colombo: The national government laid the necessary foundation to free the country from the immense burden it incurred and to build essential political stability within the Nation for the development, Sri Lanka's Prime Minister Ranil Wickremesinghe said.

"We created a National Government in order to resolve this country's problems, amend the constitution, and give the citizens of Sri Lanka money by way of a new budget, and our first year in power was spent building the essential political stability within the Nation," he said.

He said the unity government inherited a massive debt burden with every sector having to pay immense loans and in the first two years the government took necessary steps to ensure debt is paid off and future is safeguarded.

"When we took over this Government, the Ministry of Finance was like a time bomb ready to explode. Every sector had a loan to pay. Two years have been spent attempting to be free from this immense debt burden. Now that time bomb will not explode," he said. "We took the necessary steps to ensure that your future would be safeguarded," the Prime Minister said.

He said the development activities of the country will be expedited in next year after laying the foundation for the mega economic transformation this year.

"While President Maithripala Sirisena begins his third term, we are commencing our development work. We used the year 2016 to lay the foundation required for these goals, and will be allocating two years towards this process. As we now have a stable foundation in place, we are able to assure you of a good and prosperous future," he said.

The Premier said basic sectors like tourism, industries, and ports will be further improved to provide one million employment opportunities.

He made these remarks addressing a function held Tuesday at the Sugathadasa Stadium, Colombo to grant deeds to people who were given housing units.

At the event, 3,000 families in Colombo district received freehold deeds for the housing units in line with the government's initiative to provide a house for each family.


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