Cabinet Spokesman, Minister Dullas Alahapperuma says that the country’s foreign reserves have plummeted and even the increase in fuel prices was one of the solutions to the rapid decline in foreign reserves.
“There is a big drop in reserves. This has not happened as a result of this government coming in and increasing the amount of foreign loans. It is no secret, however, that the reserves have unfortunately declined. The living conditions of the people are very critical.
Even to increase fuel prices, the Central Bank, the Ministry of Finance and all these institutions discussed and decided that this was the only solution for the rapid decline of foreign reserves. The Ministry of Finance, the Petroleum Corporation, the Central Bank and all those institutions are of the view that the use of fuel should be managed. We all understand that this is not a good thing for a country’s economy. Now, when Minister Mangala Samaraweera mentions the price formula in history, we too have sat in the Opposition and sometimes ridiculed and insulted it. It is no secret that if there was a price formula at a time like this, the benefits would be shared by both sides when that price fluctuates. “
Minister Dullas Alahapperuma stated this addressing a media briefing held yesterday (21).