The Sri Lankan Cabinet has granted approval to abolish an economic management committee headed by the Prime Minister, Ranil Wickremesinghe.
The decision was made in a cabinet meeting chaired by Sri Lankan President Maithripala Sirisena, who has previously submitted two cabinet papers requesting the Cabinet Committee on Economic Management be disbanded.
The President said that the CCEM has done nothing fruitful to the country in its existence.
The Central Bank and the Securities and Exchange Commission were also removed from Wickremesinghe’s National Policies and Economic Affairs Ministry today, as tensions between the coalition parties continue.