Former Deputy Leader of the United National Party and Parliamentarian Ravi Karunanayake said that the government should reconsider the implementation of the Parate law in light of the current disaster situation affecting the country.
He pointed out that the interest rates applied under the law are very high, making its enforcement particularly problematic during a period of widespread hardship.
Noting that the ongoing disaster has impacted 22 districts, the MP stressed that the government should consider temporarily suspending the implementation of the Parate law to provide relief to those who are suffering.
He further said that the Central Bank should introduce a grace period on loans, especially for sectors that have been affected by the disaster.
