The UNP has called for the appointment of a Parliamentary Select Committee to inquire into the threat of an imminent collapse of the country’s financial institutions and a immediate solution found to circumvent the threat.

UNP frontliner and Colombo District parliamentarian Ravi Karunanayake said that a group of UNP MPs had addressed the Secretary General of Parliament requesting the immediate appointment of a Select Committee.

Karunanayake told a press conference at the Opposition Leader’s office yesterday afternoon (17) that certain financial companies had already collapsed causing a loss of Rs 2. 8 billion a month to the country.

He said that the Government’s haphazard approach to standard financial policies and corrupt practices contributed to the collapse. "The Government is solely responsible for the situation", Karunanayake said.

He totally dismissed Central Bank Governor Ajith Nivard Cabraal‘s statement that there is no adverse financial situation prevailing in the country. "He has been proved wrong" Karunanayake said.

He also said to reduce the losses incurred by the Government, the latter was following a principle of burdening the people with more taxes. Citing examples he said that two Bills to the effect that the Nation Building tax be increased from the present one per cent to 3 per cent and to exempt certain state institutions from taxes have already been submitted to Parliament.