President Ranil Wickremesinghe has revealed that the collection of rent from houses provided on an interest basis to urban low-income families will be entirely halted.

Instead, efforts will be made to transfer the ownership of these houses to their respective occupants, the President said.

He mentioned that houses constructed under various urban development programs have been rented to low-income families and a monthly income of Rs. 3,000 is levied from them.

By the completion of the program to provide land and housing rights to the people, the President said approximately 70 percent of the people of this country will become the owners of land and houses.

President Wickremesinghe made this statement while delivering the 2024 Budget speech in Parliament today (13 Nov.), in his capacity as the Minister of Finance.

Budget in sri lanka parliament