June 25, Colombo: Basil Rajapaksa, the founder of the Sri Lanka Podujana Peramuna (SLPP), who returned to the island from the United States Thursday, will be sworn in as a Member of Parliament on July 6th, Lankadeepa reported according to political sources.

After being appointed as a Member of Parliament, Basil Rajapaksa will be sworn in as the Cabinet Minister of Finance and Economic Development before President Gotabhaya Rajapaksa on the same afternoon, government sources said.

Basil Rajapaksa is scheduled to enter Parliament as a Member of Parliament for the National List of the People's Front.

Prof. Ranjith Bandara, the Member of Parliament appointed by the SLPP from National List is expected to resign to give the opportunity to Basil Rajapaksa to enter the parliament.

Basil Rajapaksa returned to the island yesterday morning after spending more than a month in the United States. It is expected that Basil Rajapaksa will reduce the increased petrol price by between 5 and 7 rupees and the diesel by between 3 and 5 rupees after he is sworn in as the Finance Minister.

Basil Rajapaksa also served as the Cabinet Minister of Economic Development in the Rajapaksa Government from 2010-2015.