A positive international image built by Sri Lanka subsequent to its ability to make changes to the economy during the last two years should be used to build up the country, Finance Minister Ravi Karunanayake said.
Minister Karunanayake was addressing a ceremony at the Finance Ministry
yesterday to mark the conferment of the award for the Best Finance Minister of Asia Pacific Region on him by an internationally recognised London based Financial Magazine “The Banker”.
The minister said the difficulties faced by the people are a commitment that made to ensure a better tomorrow. Taxes will be reduced. Benefits will be passed on to the people soon, he said.
The minister said positive changes in the local economy have been recognised internationally although it is not palatable to extremist politicians.
Minister Karunanayake said: “The country wouldn’t have been able to achieve this victory without the leadership of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe. I made a request soon after I assumed duty on January 10, 2015 to work together like one family and take the ministry activities forward. My request was honored. Certain groups in Sri Lanka looked at our work with a crooked eye, but our work has been assessed an appreciated internationally.”
He said: “This award is evidence to our good work and our journey forward. We should use this international recognition in building up our country. A country cannot run on loans. Loans should be turned into investment. When independence was declared for our country in 1948, Japan remained equal to Sri Lanka. However, per capita income in Japan is US$ 55,000 today while ours is US$ 4000. What is the barrier standing before us? It is the way of our thinking, our work and the way of how we negotiate with the rest of the world.”
“We have a good opportunity to think anew. When we assumed office, the country’s revenue was not sufficient to repay loan installments. But unity and the commitment by the people helped us to make achievements. We are earning more than that of the recurrent expenditure. We do not need to obtain loans to repay loans,” Minister Karunanayake said.
Parliamentarians Nalin Bandara, Hector Appuhamy and Finance Ministry Acting Secretary Chandra Ekanayake, Deputy Secretaries S.R. Atygalle and A.R. Deshapriya were also present.