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* National Economic Council discusses current status of the country's economy
Thu, Oct 4, 2018, 09:22 am SL Time, ColomboPage News Desk, Sri Lanka.

Oct 04, Colombo: The National Economic Council, headed by President Maithripala Sirisena, yesterday discussed the current status of the country's economy with private sector and the academia, President's Media Division said.

The National Economic Council was gathered under the patronage of President Maithripala Sirisena at the Presidential Secretariat, yesterday (03) with the participation of the business leaders, chambers of commerce and industries, members of the academia including vice-chancellors of universities, and public sector.

During this consultation, NEC gathered views on immediate measures to be taken, and opportunities opening up with regard to the current economic status of the country. Private sector representatives, including the Chairmen of several leading companies were present on this occasion.

The meeting was also attended by the representatives of the Central Bank of Sri Lanka, Board of Investment of Sri Lanka, Export Development Board and the heads of all leading key chambers of commerce and industries, and state and private banks.

Special attention was drawn regarding the promotion of Sri Lanka's export sector and managing the devaluation of the rupee.

The Central Bank explained in detail regarding, the steps that have been taken by the Central Bank to manage the depreciation of the rupee.

The Central Bank further pointed out that the depreciation of the rupee was due to external factors, and stated several countries, including India, Pakistan, Malaysia and Indonesia have also faced this prevailing condition.

The National Economic Council was also briefed on the benefits and opportunities that could be given to promote exports. Attention was also paid to improving the tax policy to incentivize exports.

The Prime Minister Ranil Wickremesinghe, Ministers Mangala Samaraweera, Mahinda Samarasinghe, Harsha de Silva, Eran Wickramaratne, Secretary to the President Udaya R. Seneviratne, Secretary-General of the National Economic Council Prof. Lalith Samarakoon, Governor of the Central Bank of Sri Lanka, Dr. Indrajit Coomaraswamy and vice-chancellors of University of Colombo and Sri Jayewardenepura and other distinguished intellectuals also participated in this meeting.


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