Sri Lanka aims to sell national airline Print bank payroll for civil servants : InfoQuest

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Sri Lanka’s new prime minister Ranil Wickremesinghe said on Monday that the new government plans to sell SriLankan Airlines, the national airline. After a hefty loss of Rs.45 billion ($124 million) in the fiscal year ended March. 2021 as part of the new government’s efforts to maintain national financial stability

Sri Lanka’s new prime minister said “This loss shouldn’t even be a burden on the poorest of people who have never boarded a plane.”

Bloomberg News reported that Mr. Wikrom Singyang also admitted that Sri Lankan authorities have to print money to pay salaries to civil servants. This will further deteriorate the Sri Lankan currency at a time when Sri Lanka is ramping up to buy dollars to pay for crude and fuel oil when gasoline stockpiles are just one day away.

Mr. Wikromsinghe said “The next several months will be the most difficult time of our lives,” with Sri Lanka requiring participation from all political parties to find a solution.

Sri Lankan President Gotabhya Rajapaksa appointed opposition party Wickremesinghe as Sri Lanka’s new prime minister late on Thursday amid weeks of violent protests.

Sri Lanka is facing its worst economic crisis in 74 years since Britain’s independence in 1948, with inflation hitting record highs. and foreign reserves are limited which is not enough to pay the debt this year including paying for the import of fuel, food and medicine

By InfoQuest News Agency (17 May 65)

Tags: Ranil Wickremesinghe, SriLankan Airlines, Sri Lanka

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