Plan to boost SL image overseas raises forex spending issues
Forex-starved Sri Lanka is embarking on an integrated strategic communication programme to promote Sri Lanka’s national and international image spending millions of dollars with the approval of the Cabinet of Ministers this week.
The aim of this international propaganda campaign mooted jointly by foreign and media ministries is to boost the country’s image globally and specially in South Asia and also attract foreign investors, Media Minister Bandula Gunawardena said.
The government has recognised the need to implement a strategic communication programme to consciously manage a correct foreign policy by bolstering international relations and to raise Sri Lanka’s international image to face global and regional challenges, he elaborated.
While Parliamentary approval is necessary for such dollar spending programmes, cabinet consent is sufficient for a limited amount, a leading member of the Committee of Public Finance (COPF) told the Business Times.
However this matter will be raised at the next COPF meeting, he said adding that the relevant cabinet paper has not indicated the total cost of this programme.
He expressed concern on wasting much needed foreign exchange for international propaganda campaigns at a time when the country’s foreign reserves were at a very low level of US $3.76 billion as at end July 2023 including the China swap equivalent of around $1.4 billion which is subject to conditionality on usability.
He revealed that a similar international propaganda campaign to boost the image of Sri Lanka was launched in 2013 during the Mahinda Rajapaksa regime spending $6.5 million but there was no return on the investment.
The latest proposal has not been referred as yet to the Finance Ministry and it should have been submitted before the ratification by the cabinet, official sources said.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!