The Committee on Public Finance has directed the Central Bank to come up with new development finance strategies to uplift entrepreneurs.

The Committee has informed that an innovative strategic plan should be formulated with the general public and the country in mind.

The Central Bank also revealed that it had managed to maintain a savings balance of US$ 323 million when summoned before the Committee on Public Finance.

Attention was also drawn to the allegations that the country and the government have suffered losses due to the tax reform measures taken by the government so far regarding sugar. The Finance Committee stated that the relevant criticisms were a black mark on the government and did not benefit the consumer as expected.

It was revealed that the report called in this regard has not been received yet.

The committee also stated that a feasibility study report was required regarding the construction of a city hotel at 116 Galle Road, Colombo 3