President Ranil Wickremesinghe outlined key initiatives aimed at bolstering the country's financial sector and promoting equitable land redistribution. The President's proposals include allocating 20% of the shares of two prominent state-owned banks to either strategic investors or the public, a move designed to enhance capital reserves and foster future growth.

The strategic decision to involve external investors or the public in the state-owned banks signifies a proactive approach to strengthen the financial foundations of these institutions. By infusing capital through strategic partnerships or public offerings, the government aims to create a more robust banking sector capable of supporting the nation's economic expansion.

In addition to the banking sector reforms, President Wickremesinghe announced a groundbreaking policy related to land redistribution. Under this initiative, ownership of all land distributed under the licenses of the Land Development Ordinance will be returned to the farmers. This transformative measure is expected to benefit two million families across the country, marking a significant step toward ensuring land equity and empowering farming communities.