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Active Liability Management Bill plunges island from frying pan into fire: Handunnetti

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JVP Parliamentarian Sunil Handunnetti has charged that the the government's strategy of obtaining loans to settle the existing loans, was plunging the country from the frying pan into the fire.

He was taking part in the Second Reading debate on the Active Liability Management Bill in Parliament. He charged that the current government led by Maithri and Ranil and the past government led by Mahinda Rajapakse should be ashamed for moving this Active Liability Management Bill, as both had boosted the country's ability of taking loans. Even former President Mahinda Rajapaksa, had exaggerated concerning the Government's ability to obtain loans, while today, the loan and premium of the country in 2019 has increased to Rs 4.2 Trillion, which was three fold of the GDP. The development rate of the country which was 4.8 percent last year, had dropped to 3.3 percent this year. He added that the inflation rate which was 4 percent last year, had increased to 7.3 percent this year.

He added that the money which was been taken by way of loans, should be deposited in Government banks. The interest of the deposited monies should go to the people of this country.

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