5:00 p.m.
(g)
So, I'm taking over the finance ministry. I'll appoint Rajendra as 1st minister. But it's got multiple new roles. Which is why there's so many new people assigned.
Sunil, who is NSB chairman, and this guy, Nihal, will be working with my trade ministry, who will be investing under our "Sovereign Wealth Fund" that will replace the ETF and NSB.
The ETF and EPF, will not really be used. We will collect Income Tax (with automatic direct Withholding Tax collection), that will be sent to Finance Ministry.
I'm creating a new big bank. This is so we can facilitate our big business. This will be handled by our Finance Ministry.
The Trade Ministry will be using "Sovereign Wealth Fund" as their brand new investing arm. They will be taking possession of the bottom 10 to 25% of Sri Lanka's income for investing competitively. The people responsible will be using their personal wealth, as security, to handle it / shield risk.
We have to plan it out.
This way, the poor people have more money in real terms. As they often lack very high degrees of financial sophistication and financial literacy.
NSB, People's Bank and Bank of Ceylon will be made into one big bank. If possible, we might grab back NDB too. If it was stolen from the people.
I guess, the Finance Ministry, can also invest in projects that are low risk. But the Trade Ministry will be acting like Temasek or GIC in Singapore.