Former Deputy Leader of the United National Party and MP Ravi Karunanayake has raised serious concerns about the credit policy of the Central Bank of Sri Lanka, questioning why adequate loans are not being directed toward capital expenditure.
Speaking in Parliament, the MP said there are doubts as to whether the Central Bank is genuinely interested in extending credit facilities to young entrepreneurs and productive sectors.
He noted that although the country’s financial sector is reportedly expanding by around 25 percent, much of the lending appears to be concentrated on mortgages, credit cards, and leasing facilities rather than investment-driven activities.
The MP pointed out that he has repeatedly raised this issue in Parliament and called for a shift in policy to support long-term economic growth.
He added that despite raising these concerns with the government on several occasions, clear answers have not been provided, which he attributed to shortcomings in the Central Bank’s current approach.
