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Even I'm unable to comprehend pricing formula: Mangala

10 October 2018 02:47 am - 27     - {{hitsCtrl.values.hits}}


The Finance Minister Mangala Samaraweera said yesterday that even he cannot comprehend what this pricing formula was.

He said further that when people come to know what this formula was, they will also be affected mentally.

Minister Mangala Samaraweera made this comment at a media briefing held yesterday at the UNP head quarters Sirikotha in Pitakotte, replying to a question posed by a journalist. With the Pricing Formula on the Fuel pricing is in operation, it cannot be expected that there would be a price reduction today.

He also stated that until the beginning of February next year, one cannot have any hopes of a reduction in the price of oil in the World Market. The price increase of oil in the World Market and the value of the rupee are directly having their impact on the fuel price and it is expected to have a media briefing somewhere next week on the declaration of the pricing formula. (Nimala Kodituwakku)

  Comments - 27

  • Unchikun Wednesday, 10 October 2018 07:50 AM

    Now, that is serious. You are in charge of finance?

    තෙල් පිස්සා Wednesday, 10 October 2018 04:53 PM

    මංගල වත් නොදන්නා මහා මංගල තෙල් සූත්‍රය

    gammini Wednesday, 10 October 2018 08:01 AM

    It is not surprising that you can’t comprehend ,when your University degree is in Textiles. How the hell with the “Underwear” making degree, you ended up in this high position ?

    Gehan Wednesday, 10 October 2018 10:00 AM

    at least he is having a degree in something, what about the rest 200

    Ariya Gajanayaka Wednesday, 10 October 2018 12:38 PM

    Underwear degree is 1000 times better than those fake degrees of some fathers and sons in the present parliament. we know some so called Lawmakers in Diyawanna with someone else wrote the final exam paper in Law college.

    Akila Wednesday, 10 October 2018 01:52 PM

    This is RW's choices for you, Earlier one had only an AL certificate and couldn't even read a text properly

    Don Wednesday, 10 October 2018 05:36 PM

    It's not the degree what matters but the personal qualities. Look at the rest of 225 gang.. Most should be in the jail.

    Jim Wednesday, 10 October 2018 08:09 AM

    We already figured, you remind me of a ship without a sail.

    Mk Wednesday, 10 October 2018 02:31 PM

    A tent without a pole

    Vladimir Wednesday, 10 October 2018 08:23 AM

    That's like the chef doesn't know what he included in his own recipe, Pfffffffff.

    Sara Wednesday, 10 October 2018 02:59 PM

    That's like the chef doesn't know what he included in his own SOUP,

    Concerned Wednesday, 10 October 2018 08:31 AM

    What a sad state of affairs! Then how can we be sure that it's a genuine formula which reflects the true situation? Needless to say that repeated increase in fuel prices has a ripple effect on the prices of all other commodities. Is there an invisible hand trying to put Govt in trouble? Why don't you abandon the formula immediately until YOU understand and believe in it? We count on you Mr Minister....

    Don Wednesday, 10 October 2018 09:02 AM

    No wonder you do not understand, have u passed O/L maths.By the way he does not have a degree but a textiles DiplomaMangala u are saying u are not fit to become the minister of finance

    jakob Wednesday, 10 October 2018 01:37 PM

    But his appointment in cabinet is scientifically done

    ND Wednesday, 10 October 2018 09:04 AM

    At least he is genuine. He has accepted his weaknesses. Resonantly we saw how MR handled the rupee devaluation problem at a press conference.

    Yahiya Wednesday, 10 October 2018 09:07 AM

    First scientific man must lead the country

    DHA Wednesday, 10 October 2018 09:07 AM

    We forgive you !!!! Cos your own leader doesn't know what post he's holding....

    Mohamed Fairoas Wednesday, 10 October 2018 09:50 AM

    You have increased the rate from existing high rate. How come existing rate is correct while applying formula. Applying formula from existing rate is mathematically wrong. First of all Government responsibility to prove that the base rate is correct based on the Formula.

    Observer Wednesday, 10 October 2018 09:55 AM

    It is scientifically pathetic that the minister does not know what their own formula is like. But we all know, whatever is contained in the formula, that the prices keep rising dramatically.

    MP Wednesday, 10 October 2018 10:02 AM


    fareed Wednesday, 10 October 2018 10:15 AM

    Well, pricing formula will not help the transport cost of travelling to and fro.

    Shiva Wednesday, 10 October 2018 10:18 AM

    You could not even pass OL and Maths ☺️

    Hubris Wednesday, 10 October 2018 12:43 PM

    According to the news report, MS says he finds the formula incomprehensible. He then says the public will "also" be "mentally affected" when they understand it. So, since there will be a briefing on the formula next week, are we to expect him and the public to be 'mentally affected' next week?

    Sharon Wednesday, 10 October 2018 01:55 PM

    Please leave the office...

    haris Wednesday, 10 October 2018 02:30 PM

    May be Petroleum minister used Duckworth Lewis fomula.

    Harini Wednesday, 10 October 2018 05:51 PM

    Or Murphy's Law.

    john frazer Wednesday, 10 October 2018 04:51 PM

    exchnage rate is the issue

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