January 01, Colombo (LNW): The government of Sri Lanka is further burdening an already financially strained populace through continuous taxation, National Peoples Power (NPP) member Nalin Hewage asserted.
He emphasised the significant impact on citizens, who now have to bear the brunt of paying Rs. 150 for each litre of petrol and diesel.
Highlighting the interconnectedness of energy sources, Hewage noted that since electricity generation relies on diesel, the exorbitant fuel prices make it impractical for factories or businesses to operate efficiently.
Expressing concern over the recent Value Added Tax (VAT) hike, the NPP member warned of adverse consequences for the manufacturing sector, and anticipated a decline in production capacity and foresees potential job losses, attributing these negative outcomes to the government’s taxation policies.
This critique suggests a broader impact on the economy, emphasising the need for a comprehensive and sustainable approach to address the challenges faced by both individuals and industries.
