The United Republic Front (URF), under the leadership of Patali Champika Ranawaka, introduced its economic recovery program titled “Unveiling the Common Minimum Plan to Resurrect the Nation” at an event in Colombo.
The program delineates three potential approaches to tackle Sri Lanka’s ongoing economic crisis.
Ranawaka advocated for endorsing the International Monetary Fund (IMF) program. Additionally, he suggested proceeding with the program while making amendments to “difficult-to-achieve” targets and incorporating specific good governance principles outlined by the organization.
The URF also puts forward the idea of exploring non-IMF alternatives, currently under discussion, with a potential focus on domestic solutions.
A crucial element of the URF plan underscores the transition of retail and wholesale trading to an electronic platform. This involves leveraging the existing LankaPay system to expand across the country “without increasing taxes.”
Ranawaka believes that this strategy could capture untaxed income from “around a million” individuals who are presently not contributing to the system.
