Sri Lanka appoints cabinet sub-committee on cost of living

COLOMBO, July 5 (Xinhua) -- The Sri Lankan cabinet of ministers has appointed the cabinet sub-committee to recommend policy and practical resolutions in maintaining the cost of living, said a statement on Tuesday.

Issuing the statement, the Department of Government Information said the cabinet sub-committee headed by the president also includes the prime minister and several other cabinet ministers.

The cabinet also appointed a food security committee with the minister of trade, commerce and food security as the chair and the participation of secretaries of relevant ministries.

Prime Minister Ranil Wickremesinghe on Tuesday said Sri Lanka will face difficulties in 2023 as well and the government's immediate plan was to control inflation, which is predicted to rise to 60 percent by the end of this year.

Sri Lanka is presently facing one of its worst economic crises as the country faces a shortage in foreign currency leading to a shortage in essential supplies including food, medicines and fuel.