The government says the Central Bank of Sri Lanka will take stern action in the future to regulate financial institutions which do not provide leasing concessions to the public approved by the government.
Speaking during the weekly Cabinet Media briefing at the Department of Government Information today, Co-Cabinet Spokesman Minister Ramesh Pathirana said the matter was discussed at length during a meeting of the Parliamentary group of the government.
The Minister said the group requested officials of the CBSL who attended the meeting to provide necessary concessions to all banks and financial institutions in the country.
Minister Pathirana conveyed his regret over certain financial institutions attempting to impose an additional interest to the moratorium provided during the previous coronavirus waves and burden the public.
He said the President has informed the Central Bank to enforce the regulatory mechanism adding they believe this will help the public receive further concessions.
Meanwhile, when questioned by media whether there was a risk of a shortage of essential food items in the future, Minister Pathirana said there is no such danger.
The Minister said the Minister of Finance had clearly stated that there are no issues in importing essential food items.
Minister Pathirana said USD50 million is spent on importing essential food items monthly while USD200 million is spent on importing crude oil.
The Minister acknowledged that the country is facing issues pertaining to foreign exchange claiming however a debt of USD one billion was paid on 27th of July.
He added the government has now moved to processes of increasing the reserves and obtaining foreign earnings.
Minister Pathirana said the government’s main aim is to promote exports and to discourage non-essential imports.
The Minister however claimed the government has adequate reserves and funds to import essential food items and crude oil.