Colombo [Sri Lanka], May 29 (ANI): Sri Lanka's Prime Minister Ranil Wickremesinghe announced, in an official statement on Sunday the 21st amendment to the constitution in order to make the President and cabinet accountable to parliament.

"We propose a National Council. A committee consisting of the Speaker, the Prime Minister, the leader of the opposition and the leaders of the major parties is called the National Council. The National Council can talk about the policies of the country as well as about the decisions of the Cabinet," said the Sri Lankan Prime Minister in a statement.

The National Council has the right to summon the Cabinet of Ministers and the Chairman of Committees, he said further, adding that, according to the new system the President and the Cabinet of Ministers will be held accountable to the Parliament.

Explaining the reform further, Wickremesinghe highlighted Standing Order 111 under which oversight committees will be appointed that will report to Parliament on policies.

Moreover, he also regarded the 19th Amendment as one of the major issues responsible for the island nation's slumping economy and political instability.

In a special statement, the Sri Lankan PM also underlined a major issue to abolish the executive presidency that came into existence with the 20th amendment of Sri Lanka and gave President Gotabaya Rajapaksa unfettered powers.

With the 21st amendment, the Sri Lankan Prime Minister yearn to bring back parliament in power and said that the timing and methodology must be decided by the party leaders at all costs.

The functioning of the Parliament has been paralyzed due to the weakening of the Parliamentary powers by the 20th Amendment, he added, stating the Executive has been given more powers and no actions were taken to prevent the economic crisis.

The Sri Lankan government is working to establish two new Committees on Monetary Affairs, informed Wickremesinghe in a special statement.

The 21st Amendment is expected to annul the 20A which gave unlimited powers to President Gotabaya Rajapaksa after abolishing the 19th Amendment.

Sri Lanka has been gripped by an economic crisis considered the worst since the country gained independence in 1948. Due to energy shortages, some parts of Sri Lanka have rolling blackouts. Sri Lanka's foreign debt is estimated at USD 51 billion. (ANI)