President to open Uva-Wellassa University
Chaminda Perera
The Uva-Wellassa University established by the Government costing
over Rs. 2,200 million to give an equal opportunity to all students to
unravel the marvels of new technology will be opened by President
Mahinda Rajapaksa on August 5. The President is also expected to address
the UPFA's final rally in the Badulla district on the same day.
According to Export Development and International Trade Minister
Prof. G. L. Peries, the first batch of the students in the Uva-Wellassa
University has already been assured employment. "We have introduced new
study courses which would suit the country's present requirement" ' the
Minister said.
The Minister was speaking at the UPFA's weekly press briefing at the
Mahaweli Centre in Colombo. He said the interest rates will fall with
the standby facility given by the International Monetary Fund (IMF) and
the Small and Medium scale entrepreneurs will benefit. "This is the
first time the country has received such a massive amount of funds from
the IMF," he said.
The Minister stressed that investors from India, Iran and many other
countries are prepared to invest in Sri Lanka with the IMF's decision to
grant a standby facility to Sri Lanka.
"The Foreign investors are eager to invest in Sri Lanka as they have
confidence that the country's economy is progressing and there is a
conducive environment for them to begin operations here, the Minister
said. Prof. Peries said the IMF has adopted very flexible conditions in
providing this stand by facility.
"The IMF has said the Government should maintain the budget deficit
at a level of seven percent while President Mahinda Rajapaksa during his
budget speech last year said the Government would maintain the budget
deficit at 6.5 percent. The IMF imposed unacceptable conditions in
providing loans to the Third World countries earlier. They demanded the
privatisation of state ventures before the funds were approved.
The Minister said the IMF has deviated from this policy and
understood that Sri Lanka's economy is on the right track.
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