BR100 Decreased By (-0.06%)
BR30 Increased By (1.22%)
KSE100 Decreased By (-0.07%)
KSE30 Decreased By (-0.47%)
AGHA 7.69 Decreased By ▼ -0.05 (-0.65%)
BECO 5.24 Decreased By ▼ -0.05 (-0.95%)
BML 60.22 Increased By ▲ 0.21 (0.35%)
BOP 35.28 Decreased By ▼ -1.18 (-3.24%)
CNERGY 13.13 Increased By ▲ 1.19 (9.97%)
CSIL 6.11 Decreased By ▼ -0.06 (-0.97%)
FCCL 57.97 Increased By ▲ 0.61 (1.06%)
FFL 16.42 Decreased By ▼ -0.16 (-0.97%)
FNEL 1.20 No Change ▼ 0.00 (0%)
KEL 7.48 Increased By ▲ 0.16 (2.19%)
KOSM 6.04 Decreased By ▼ -0.01 (-0.17%)
LOTCHEM 27.75 Increased By ▲ 0.61 (2.25%)
MLCF 102.98 Increased By ▲ 0.91 (0.89%)
NBP 206.04 Decreased By ▼ -0.31 (-0.15%)
NCPL 62.24 Decreased By ▼ -0.38 (-0.61%)
NPL 71.29 Decreased By ▼ -0.69 (-0.96%)
OGDC 323.78 Increased By ▲ 4.59 (1.44%)
PACE 11.51 Increased By ▲ 0.13 (1.14%)
PAEL 43.90 Increased By ▲ 0.02 (0.05%)
PIBTL 16.68 Decreased By ▼ -0.16 (-0.95%)
PPL 229.47 Increased By ▲ 7.92 (3.57%)
PRL 70.11 Increased By ▲ 6.36 (9.98%)
PTC 72.15 Decreased By ▼ -0.26 (-0.36%)
SSGC 27.11 Decreased By ▼ -0.17 (-0.62%)
TBL 9.86 No Change ▼ 0.00 (0%)
TELE 8.72 Increased By ▲ 0.10 (1.16%)
TPL 22.62 Increased By ▲ 1.94 (9.38%)
TPLP 15.68 Increased By ▲ 0.70 (4.67%)
TREET 24.21 Increased By ▲ 0.11 (0.46%)
TRG 61.13 Decreased By ▼ -2.16 (-3.41%)
By

COLOMBO: A brother of Sri Lanka's President Gotabaya Rajapaksa on Thursday became finance minister, tightening the family's grip on power in the South Asian nation as it confronts growing economic troubles. Basil Rajapaksa, 70, took over the finance portfolio from another brother, Prime Minister Mahinda Rajapaksa.

The 72-year-old president has put Mahinda in charge of a newly created but lower level economic policies and planning ministry. Mahinda Rajapaksa, 75, was the country's president for a decade up to 2015, and Basil, who is known as the family's political strategist, managed the economy then.

Basil takes charge now after the economy recorded a coronavirus-inflicted 3.6 percent contraction for 2020, the worst since independence from Britain in 1948. With his entry, the cabinet headed by Gotabaya now has five members of the Rajapaksa family.

Eldest brother Chamal, 78, is minister of irrigation while the prime minister's eldest son Namal, 35, is the youth and sports minister. Several Rajapaksa family members hold junior minister positions and other key positions in the administration.

Basil Rajapaksa was described as "Mr Ten Percent" in a 2007 US embassy cable published by the WikiLeaks organisation because of commissions he allegedly took from government contracts.

Comments

Comments are closed for this article.