How can high and mighty bureaucrats control the economy - Ravi Karunanayke

Former Finance Minister Ravi Karunanayke says that those who interpret depreciation of rupee against the American dollar as a healthy situation are political opportunists and the economy keeps collapsing because it is controlled by bureaucrats who know nothing about the ground level reality.

He emphasizes that the whole country is now aware of how the economy is controlled by officers of the Central Bank who do not have any practical knowledge.

He said this at an event in Kandy organized to provide monetary support for victims of ethnic conflicts in Kandy. This event was held at UNP office in Thotalanga.

He said that the depreciation of rupee strongly affects all aspects of the economy including imports and exports. He further said that he is requesting political opportunists to explain how the effects on import-export can be mitigated and why the depreciation of rupee does not affect the economy.

He explained how he attempted to control fuel prices and give the fullest advantage to people when he served as the finance minister. He further said that trying to alleviate the effects on the economy by changing fuel prices is difficult and such situations have been controlled in the past by taking right decisions.

He further mentioned that the fuel prices have become uncontrollable due to the poor administration of officers who do not have practical knowledge.

Ashika Brahmana

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