Team of experts to assist the Finance Minister

The Advisory Committee appointed to assist the National Economic Council has proposed appointing a team of experts to assist the Finance Minister.

The President’s Office said that the Advisory Committee has made five recommendations that need to be implemented immediately.

The members of the Advisory Committee met President Gotabaya Rajapaksa and members of the National Economic Council for the first time this morning (21) and presented the set of proposals.

The President appointed a 16-member Advisory Committee on March 15 to assist the National Economic Council in finding solutions to the prevailing economic issues.

The five recommendations by the Advisory Committee are

1. Immediate appointment of a Technical Team consisting of officials representing the Central Bank and the Treasury to formulate programmes proposing international financial assistance.
2. Appointment of a financial adviser immediately and a legal adviser.
3. The Technical Team should immediately come up with a reform programme to propose international financial assistance.
4. Identify an expert team to assist the Finance Minister.
5. Focus on confidence-building measures after solving supply related issues.

The Advisory Committee further recommends that immediate and long-term measures be taken to stabilize and strengthen the economy.

The Advisory Committee is confident that the economic crisis can be solved in the short term by properly managing the challenges.

Prime Minister Mahinda Rajapaksa, Ministers Basil Rajapaksa, Bandula Gunawardana, Mahindananda Aluthgamage, Central Bank Governor Ajith Nivard Cabraal, Secretary to the President Gamini Senarath and members of the Advisory Committee were present at the meeting. (Colombo Gazette)