MP Ravi Karunanayake strongly opposed devaluing the Sri Lankan Rupee to facilitate vehicle imports, citing economic instability and undue strain on the population. Speaking at a press conference on January 16, he emphasized the need for prudent economic policies to sustain the country’s growth.
Key Points from His Address:
- Rupee Stability: Karunanayake highlighted that devaluing the Rupee for the satisfaction of a few would harm the broader economy.
- Economic Policy: He called for a strategy that generates state revenue without currency depreciation and criticized reliance on imports over exports, which could lead to Rupee depreciation.
- Tax Burden: The MP cautioned against imposing excessive taxes on the public, arguing it would distort the economy and leave citizens unable to cope financially.
- Unkept Promises: He pointed out that the government must address promises made to voters, including offering vehicles at Rs. 1.2 million and reducing fuel prices.
- Revenue and Investment: With the state revenue requirement for 2025 set at Rs. 5,000 billion, Karunanayake stressed the importance of investment promotion to achieve this target.
- Cargo Challenges: He warned about the economic impact of ships departing without unloading, reflecting inefficiencies that could hurt trade and revenue.
Karunanayake’s remarks underline the urgency of adopting sustainable economic policies that balance public needs with national revenue goals while safeguarding the currency’s stability.
