Sri Lanka privatizes its airline to pay wages| MENAFN.COM

Wednesday, 10 August 2022 01:35 GMT

Sri Lanka privatizes its airline to pay wages


(MENAFN) The latest regimen of Sri Lanka has put few strategies to trade its international aviation to cut losses, some of which is to make the country’s economy steadier, even as policies are made to produce more money to pay regimen wages.

This trade is for the sake of privatizing the Sri Lankan Aviation, as publicized by Ranil Wickremesinghe, Prime Minister. The trader lost 45 billion rupees (USD124 million) in last year’s Q1, few days before the country is set to officially default on external debt. “It should not be that this loss has to be borne by the poorest of the poor who have not set foot in an aircraft,” as noted by Wickremesinghe.

Wickremesinghe stated that he was obliged to produce more money to pay wages, which is going to burden the country’s currency. He added, the country has one day’s market of gas and the regimen is doing the work to have dollars in the open stock to pay for three ships with crude oil as well as furnace oil that have been affixed in Sri Lankan seas.

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