Sri Lanka could have faced same fate as Bangladesh: Lankan President Wickremesinghe

Colombo, Sep 2 (IANS) Sri Lankan President Ranil Wickremesinghe said on Monday that the government is planning to establish a National Wealth Fund using government assets, similar to investment companies created by countries like Norway, Qatar, and Singapore, where profits from government revenues are used for public welfare.

Noting that he took control of the country during an economic collapse and made “difficult decisions” to rebuild it, Wickremesinghe also emphasised that without the patience shown by the people of Sri Lanka, the island nation could have faced a fate similar to Bangladesh today.

“If people had taken to the streets to govern the country, Sri Lanka could have faced the same fate as Bangladesh today. Rebuilding the economy required making difficult and unpopular decisions, including necessary steps in consultation with the