Former Deputy Leader of the United National Party and Parliamentarian Ravi Karunanayake said that the losses suffered by the country due to Cyclone Ditwah are estimated to be between 5 and 6 percent of the gross domestic product.
He stated that, according to calculations, the total loss amounts to between Rs. 2 trillion and Rs. 2.5 trillion.
The MP noted that if the country had maintained a comprehensive insurance programme to respond to such natural disasters, it would have been a major source of strength at this critical time.
He also pointed out that the National Insurance Trust Fund initiative introduced by the UNP-led government in 2015, during his tenure as Minister of Finance, was discontinued by the previous government in 2018.
Ravi Karunanayake added that had the programme been properly maintained, it would have been a highly valuable investment for the country.
