Cash-strapped Sri Lanka sharply hiked fuel prices to a record high, causing further pain to the country's 22 million people in its worst crisis since independence.
Police meanwhile have arrested two lawmakers from the Rajapaksas' Sri Lanka Podujana Peramuna in connection with last week's violence when anti-government protests turned deadly.
President Gotabaya Rajapaksa promises to appoint new premier, empower parliament and abolish the all-powerful executive presidential system amid political crisis and violence triggered by worst economic crisis in memory.
There have been flare-ups of violence around the country despite stringent security measures, as protesters continue shouting slogans against the government while defying a curfew.
Five people were killed and nearly 200 wounded as prime minister Mahinda Rajapaksa resignation which did little to calm public anger.
Violence erupts among protesters and trade unions call for protests throughout this week over the worst economic crisis in the country's history.
A majority vote in the 225-member Parliament would be needed to remove Mahinda Rajapaksa and the Cabinet from power in the South Asian island country.
Also, the Sri Lankan government will sell long-term visas to attract foreign currency after the island nation ran out of dollars to pay even for food and fuel in the wake of a crippling economic crisis.
Worsening economic crisis has sparked countrywide protests in Sri Lanka, with angry demonstrators camped outside President Rajapaksa's office for more than three weeks.
The government hopes the assistance programme will help top up its reserves and attract bridge financing to pay for essential imports of basic goods amid a devastating financial crisis.
Gotabaya Rajapaksa has revoked orders giving him sweeping authority to act in the interests of public order, including suspending any laws, authorising detentions and seizing property.
President Gotabaya Rajapaksa's ruling has coalition suffered a string of defections ahead of the parliamentary session, undermining his ability to ratify a state of emergency imposed last week to quell the growing public protests.
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