PM reveals NP good savings habit with diaspora money

PM reveals NP good savings habit with diaspora money

Prime Minister Ranil Wickremesinghe yesterday said in Jaffna that the total deposits of banks in the North had exceeded Rs 100 billion and those funds could be invested to develop the region.

Addressing a function in Jaffna to mark the beginning of Enterprise Sri Lanka program, he said that despite the end of the war, Jaffna remained economically backward and politically unstable. The current administration however was addressing those issues.

The PM encouraged the people of the north to invest their savings in the region to boost the economy. Moreover the tax on investment was drastically lower than the tax on savings, he noted.

“Due to the war the area was devastated and people lost their capital. The economic development is the creation of capital and we are carrying out an initiative to do this,” the Premier said.

Wickremesinghe said that savings in the province was equivalent to the Southern and North Western provinces. However those provinces had more enterprises.

“After 2015, the diaspora has sent a lot of money and the people have deposited most of it in banks. But these funds must be used to develop this region,” he said.

Courtesy: island.lk

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