There is no escape from the debt crisis until 2048 – Dr. Gunawardhana

The Batticaloa District Coordinating Committee meeting was chaired by Transport, Highways and Mass Media Minister Dr.Bandula Gunawardhana at the Batticaloa District Secretariat Auditorium. The Minister explained about the development activities of the district in relation to the transport and highways sector and there was also an explanation given about the future development plans of the district.

The minister who spoke further said;The government has spent a huge amount of money on projects such as ‘Uthuru Wasanthaya’ and ‘Negenahira Udanaya’, which were implemented under the leadership of former President Mahinda Rajapaksa, to develop the Northern and Eastern provinces that were devastated by the thirty years of war. The finances for this have been obtained as loans and aid.

As a country, we are currently facing a huge debt crisis due to the fact that we have not paid off our foreign loans. The country will not be able to obtain any foreign loan assistance until the foreign debt payments are restructured. Development activities in all parts of the country, including the Eastern Province, are at a standstill. All development works related to our ministry including road development can be done only if the country is able to get foreign loan assistance again. There is no political solution for that. As a country, we have to pay the debt of about 36 million US dollars until the year 2048. No matter which leader, no matter which government comes to power, there is no escape from the debt payment crisis.

I believe that after the success of the debt restructuring programme which is being carried out jointly with the government led by the President, the Prime Minister, friendly foreign governments, and international institutions, development will once again dawn on the country.

I would like to announce that, then, the stalled development activities will resume, giving special priority to the Southern Province as well as the Northern and Eastern Provinces.

The Asian Development Bank has granted a loan of Rs. 3.9 billion to carry out the development activities, until then. As the minister, neither I, nor Sivanesathurai Chandrakanthan as the state minister nor any other minister is able to develop the required roads with that money.

Only roads selected by the Asian Development Bank can be developed using those funds. Also, a special programme is being implemented to manage underutilised land and other assets in order to make the railway department, which continues to incur huge losses, profitable. In many parts of the country including the Eastern Province, land owned by the Railways is being used without permission. The government is prepared to develop the province through proper collection of taxes and long-term leasing for transparent development projects.

There is also a great demand for a new train from Batticaloa to Jaffna. Discussions are going on with the Indian government to get some trains to this country under the Indian loan scheme. If those negotiations are successful, I believe that the request of the people of this area will be fulfilled in the coming year.

In order to achieve all these goals, it is necessary for everyone to work together with a proper understanding of the existing conditions. Eastern Province Governor Senthil Thondaman, Chairman of the Batticaloa District Coordinating Committee, State Minister for Rural Road Development Sivanesathurai Chandrakanthan, State Minister for Highways Siripala Gamlath, State Minister for Trade S. Viyalendran, MP Govindan Karunakaram and other public officials and public representatives of the district participated in this event.

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