The National Economic Council (NEC) set up by President Maithripala Sirisena was scrapped at the Cabinet meeting yesterday (15). President Sirisena chaired the Cabinet meeting.
The NEC headed by Prof. Lalith Samarakoon was set up by the President after faulting the Cabinet Committee on Economic Management (CCEM) headed by Prime Minister Ranil Wickremesinghe of being ineffective and failing to address key economic issues.
The NEC under the purview of the President was meant to have played a role in economic policy making.
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