National Economic Council meets President

COLOMBO: The Government Economic Council appointed by President Mahinda Rajapaksa to obtain expert knowledge and advice on state economic affairs, conducted its fourth session at Temple Trees under the auspices of the President yesterday morning.

The Central Bank gave a broad analysis of the strategies to control inflation and the indices used in assessment of inflationary rates, at the meeting yesterday.

Since the responsibility to control inflation cannot be taken up by the Central Bank on its own, the measures that should be taken by institutions like the Finance Ministry, Census and Statistics Department, Commercial Banks, Trade and Commerce Ministry, the Mineral Resources Ministry and Power and Energy Ministry were discussed at length at this session.

The representatives from the Census and Statistics Department explained the main problems pertaining to the existing Colombo Consumer Index and suggested to the President, possible amendments to it.

The academics participated at the discussion yesterday paid special attention to inflation in Sri Lanka vis a vis current inflationary conditions in other countries.

President's Secretary Lalith Weeratunga, Plan Implementation Ministry Secretary Dhara Wijetilleke, Highways Ministry Secretary S. Amarasekera, Central Bank Governor Ajith Cabraal, Deputy Director Rani Jayamaha, Finance Ministry Deputy Secretary R. A. Jayatissa, Census and Statistics Department Director General Suranjana Vidyaratna, Census and Statistics Department Director D. C. A. Gunawardena, Sri Lanka Economic Association Life Member Professor A. D. P. de S. Indraratne, Policy Study Institute Chairman Buddhadasa Hewavitharana, its Director Professor Saman Kelegama, Colombo University Professor W. D. Lakshman and a number of other Representatives from the Economic Council attended the session yesterday.