Sept 19, Colombo: Sri Lanka's Prime Minister Ranil Wickremesinghe says that despite the economic challenges the country faces the government will not reduce funds allocated for the education and health sectors.
He said the economic situation that has emerged due to the rapid appreciation of dollar is not only limited to Sri Lanka but other small countries are also facing the challenge. However, the Government is ready to provide relief to the people affected by this situation, the Prime Minister said.
The Premier noted that when the dollar appreciated at once the investors of every country dispatched their funds to the United States and the money in local banks decreased.
He pointed out that when the value of the Dollar increases, the value of the rupee decreases and the prices of goods including food and fuel increase.
"Every country was increasing the duty. This also causes a major hindrance to the international trade. India is also impacted by this situation," he said.
Prime Minister Wickremesinghe added that some countries are reducing funds allocated for the on education and health as a result of the strengthening dollar but the Sri Lankan government is attempting to face the situation without resorting to such reductions.
The Prime Minister Speaking was speaking at a function organized for the opening of a new classroom building of the Darussalam College in Maligawatte, Colombo.
The four-storied classroom building, fully equipped with all facilities has been built by the Education Ministry at a cost of Rs.40 million.
Speaking further, the Premier said that efforts are underway by the Ministry of Education to develop schools in rural parts of the country.
The Prime Minister said they had plans to launch another school in Central Colombo. He said he had asked the MP to look for a land to build this school.
He noted that there is a large Muslim population in Colombo North and Borella and they lack schools necessary to secure their education. The government has taken many steps to develop several schools in the country, he said.