PSC to look into those responsible for Sri Lanka’s economic bankruptcy

President Ranil Wickremesinghe says a parliamentary select committee will be appointed on a resolution by parliament to look into those who led the economy to bankruptcy with incorrect fiscal policies.

The President made this remark joining the debate on budget proposals in parliament today (Dec. 08), in response to a query made by parliamentarians as to who drove the country to such a bankruptcy and how to hold them responsible, the President’s Media Division reported.

Speaking on the issues faced by banks, the President said the banks will have to auction their property if people do not settle loans.

“But the issue is that the people also have no money to buy such property. Therefore, we are discussing with the IMF to solve these issues. I think we all have to get together and think how this financial sector is to be lifted. We can blame each other. I can say I am not responsible. But the fact is that we can’t have the banks collapsing. So we have to come back to banking.”

“That’s why, I want the Banking Oversight Committee”, the President added during his speech.