Advisors make five proposals to National Economic Council

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An advisory committee has made five proposals to the National Economic Council for immediate implementation to resolve economic issues.

The 16-member panel today (21) had their first meeting with president Gotabaya Rajapaksa, who heads the NEC, prime minister Mahinda Rajapaksa and other officials.

One of their proposals is for the appointment of a committee with Central Bank and Treasury representation to propose international financial facilities.

The advisors also want this technical Committee to expeditiously submit a restructuring programme for same.

Appointment of a financial advisor and a legal advisor, identifying an expert group to assist the finance minister and uplifting confidence by addressing obstacles in the supply process are their other suggestions.

The advisory committee stressed the importance of taking short and long term measures to strengthen refinancing for a more stable economy.