COLOMBO : President Gotabaya Rajapaksa confessed on Monday, April 18 tha banning chemical farming was a mistake and he decided to re-introduce it. He also said the government should have reached out to the International Monetary Fund (IMF) for a programme much earlier.
Making his remarks before the newly appointed Cabinet ministers, the president said the public wrath over long queues for purchasing essentials is well understandable by him.
He said the government made mistakes, and they should be corrected to forge ahead for the greater good of the country.
“ I believe that we should have gone for a programme with the International Monetary Fund earlier. Also, I think the decision not to provide chemical fertilizers to farmers was an error. We have taken steps to revive that practice.”
The present crisis is a good opportunity to make the system change that the people have demanded. Now you have that opportunity. At the same time, I urge these young people to help in this endevour.
During the last two and a half years we have had vast challenges. The COVID-19 pandemic, as well as the debt burden, and some mistakes on our part. They need to be rectified. We have to correct them and move forward. We need to regain the trust of the people.
Today, people are under an immense pressure due to this economic crisis. I deeply regret about this situation.
The pain, discomfort and anger displayed by the people for having to spend time in queues to get essential items at a high price that cannot be afforded due to cost of living is justified.
Whatever the shortcomings occurred in the past, it is my responsibility as the people-elected President to manage the present challenges and difficulties. I promise the people who have elected me, I will not abdicate that responsibility in the midst of any difficulty or challenge.
Among the various issues faced by the society at present, our priority is to find solutions to the economic crisis. No other problem can be solved without solving it.
I have also appointed three economists with international experiences and who have high recognition in the field of economic management to advise the Government and myself on economic management. Also, a team of public and private sector experts has been appointed to assist the government.
Today our country is facing a severe foreign exchange deficit and a debt crisis. At this time we have to use the limited foreign exchange we have for the essential needs of the people. Also need to find money for urgent foreign exchange needs.
We have already informed the creditors of our difficulty in repaying short-term foreign loans. Accordingly, a debt restructuring programme has commenced.
My newly appointed Economic Management Team has already begun discussions with our friendly countries, and international institutions such as the International Monetary Fund, World Bank and the Asian Development Bank.
About a month ago, the government announced that it was interested in joining a programme with the International Monetary Fund. The Minister of Finance and the relevant officials have already gone to the United States to take those discussions forward.
We have received credit facilities from India for the importation of fuel, pharmaceuticals and other essential commodities. In addition, the World Bank has offered to support the import of gas, fertilizer, milk powder and pharmaceuticals.
Another major reason for the shortage of fuel in the market is accumulation of large stocks of fuel by the people who fear that there will be a shortage in the future. Due to this the demand for fuel in the country has increased significantly.
A number of racketeers who are taking advantage of the hardships faced by the people have also emerged. The government is intervening to manage this situation. I urge these people to avoid such attempts in a difficult situation like this.
We have already taken the necessary decisions to manage the fuel and gas shortage issues in the coming weeks. We are implementing these decisions.
The reason for the long power cuts in the recent past was also because of the shortage of fuel available for the power plants. Despite these difficulties, we hope to obtain the required fuel quantities and limit power cuts to at least two hours in the future.
I do not believe that there is anything wrong when the young people, the most active part of the society, express their pressure in their own way.
The youths who are to take reins of the future of the country have complete freedom to express their views, organize protests and agitate today.
I believe that most people who love the country, regardless of race, religion or political affiliation, want to rectify the mistakes of the current governing system to build the country, instead of destabilising the country. Therefore, I urge these young people not to allow opportunists to move your democratic protests towards a violent path.
The legislative power of the country lies with the Parliament. Therefore, there is an opportunity to discuss in Parliament the views expressed by various political parties on the upcoming changes in the Constitution and to approve the necessary amendments. I am ready to extend my full support to Parliament at any time in this regard.
Accordingly, I pledge to respect the supreme Constitution of the country and to make necessary changes in the future and to salvage the country from this crisis. I earnestly request all of you to extend the necessary support in this regard.
