May 29, Colombo: Sri Lanka’s Prime Minister Ranil Wickremesinghe is to appoint a high-powered Economic Stabilization Committee to advise him on stabilizing the economy, according to a report in Sunday Times.

The Economic Stabilization Committee is to be headed by former Treasury Secretary Dr. R.H.S. Samaratunga and will include Central Bank Governor Dr. Nandalal Weerasinghe, Treasury Secretary Mahinda Siriwardena, Dr. Sharmini Cooray former Capacity Development director of the IMF Institute, former CB Governor Dr. Indrajit Coomaraswamy and Shantha Daniel.

According to the report, the committee will work under the purview of the Finance and Economic Stabilization Ministry to work out an immediate action plan to stabilize the economy.

Prime Minister Wickremesinghe is also the Minister of Finance, Economic Stabilization and National Policies.

Meanwhile Bloomberg reported that due to the political crisis and fuel shortage some shipping lines are diverting cargo to Indian ports instead of calling at Colombo.