Sri Lanka’s new Finance Minister Basil Rajapaksa meets foreign envoys, pushes for support for key policy initiatives

Days after taking charge as Sri Lanka’s new Finance Minister, Basil Rajapaksa - brother of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa - met envoys of six key nations as also the European Union and stressed on the implementation of the Vision of Prosperity, a key policy initiative of the government

Jul 15, 2021
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Sri Lanka’s new Finance Minister, Basil Rajapaksa

Days after taking charge as Sri Lanka’s new Finance Minister, Basil Rajapaksa - brother of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa - met envoys of six key nations as also the European Union and stressed on the implementation of the Vision of Prosperity, a key policy initiative of the government.

During the bilateral talks with the envoys, the Finance Minister said Sri Lanka has focused on creating a green economy and seeks support for the Renewable Energy Promotion Program.

Basil Rajapaksa, sworn in a week ago, is the fourth Rajapaksa brother and the fifth member of the first family of Sri Lanka to be in the Cabinet.

The eldest of the brothers, Chamal Rajapaksa, is a cabinet minister, as is Namal Rajapaksa, son of PM Mahinda Rajapaksa. Chamal Rajapaksa’s son Shasheendra Rajapaksa is a non-cabinet minister.

Ambassadors of the United States, Germany, China, Russia, the European Union and the High Commissioners of Britain and India called on the Finance Minister at his office, the finance ministry said in a release

Rajapaksa said the government is focusing on upgrading the infrastructure required for the development of the transport sector in an environmentally friendly manner while minimizing fuel consumption.

Indian High Commissioner Gopal Baglay said he was pleased that Sri Lanka has maintained an economic growth of around 4.7 percent in the first quarter of the current fiscal amid the Covid epidemic. He noted that the economy was expected to grow to 5.5 percent in the future.

Chinese Ambassador Qi Zhenhong told Rajapaksa that Beijing will continue to provide the vaccination facilities currently provided to Sri Lanka as required and is ready to link China’s top investors to the Hambantota Industrial Zone in the country’s south. China has heavily funded the Hambantota port and industrial zone.

Last Sunday, Sri Lanka received 2 million doses of Sinopharm vaccines from China, taking to a total of 7.1 million Sinopharm doses arriving in the island nation since March.

Ambassador Qi Zhenhong added that China expects Sri Lanka’s economy in the face of the Covid pandemic to return to normal soon. He further said that he is ready to provide the necessary assistance for that.

Basil Rajapaksa’s appointment has come at a time the government is facing an unprecedented economic challenge, compounded by the COVID-19 pandemic.

Ahead of his appointment, the Sri Lankan government annulled a constitutional provision barring dual citizens from entering Parliament. The finance minister is also an American citizen.

So Long Prime Minister Mahinda Rajapaksa was helming the finance ministry. He has now been put in charge of the newly-created Ministry of Economic Policies and Planning.

(SAM)

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