MP Bandula Gunewardene yesterday, said the government plans to propose several measures in the next budget to stabilise the Sri Lanka Rupee and bring it down to Rs.160 against the US dollar within the year.
Speaking to the media in Colombo, the minister also said the government will bring in unprecedented tax concessions and relief measures to alleviate the burden on the people.
The minister said the Government will also introduce measures to improve facilities for the local entrepreneurs and encourage their businesses.
Gunewardene said the government will always give prominence to local entrepreneurs and provide them with all possible assistance.
The minister charged that the previous government’s economic policies had done unprecedented harm to the country during the last three years and added it will take some time to lift the country from the current economic downturn.
He also noted that the government will establish 5,000 export processing villages throughout the country.