Poor economic management causes fuel price increase: Bandula

11 September 2018 09:39 pm - 20     - {{hitsCtrl.values.hits}}


The Government had to increase the prices of fuel due to its poor economic management, MP Bandula Gunawardana said today.

Addressing a news briefing, he said the incumbent Government did not have a long term economic policy in place.

“There is a prevailing economic crisis caused due to the rupee depreciation,” Dr. Bandula said.

“The Government has been unable to provide the advantage to the people in such a situation where the World Market price of fuel remains in a lower percentage than that in the precious regime,” Dr. Bandula said.

“Although the World Market price remained in a higher percentage in our Government, we were able to keep the people unburdened. That is why I reiterate that this Government lacks a proper economic management,” he added.

Meanwhile, MP Sisira Jayakody said even though Prime Minister Ranil Wickremesinghe was boasting of the growth of the economy, they could not see any such growth.

“The economic growth rate is diminishing compared to that in the previous Government. We were able to maintain a growth rate of six but now it has declined even below three,” MP Jayakody said.

He further said that Enterprise Sri Lanka would not become a helping hand for the poor but would make rich people richer.  (Sheain Fernandopulle)


Video by Sanjeewa

  Comments - 20

  • Fazul Tuesday, 11 September 2018 10:19 PM

    Robbing the country also leads to poor economic mismanagement i believe...

    GH Wednesday, 12 September 2018 12:56 AM

    Honored sir,the incumbent government is well versed in their personal economy!

    Jude Wednesday, 12 September 2018 01:20 AM

    When in Opposition and no power, Bandula talk like a Nobel Laureate!!??? Huh!! Bandula famously said in March 2012, that a Family of three can live with 7500 a month!!! Wow, Now criticize the government for poor economic management!!!??

    Dude Wednesday, 12 September 2018 07:11 AM

    And, during their time, the prices of fuel must have gone up due to their efficiency?

    Dhammika Wednesday, 12 September 2018 07:54 AM

    it was Rs. 2500 and not Rs.7500.

    C.K.Lankaputhra. Wednesday, 12 September 2018 03:11 AM

    MR also had to increase the prices of fuel, gas etc due to his poor management. Isn't it? If not u had no guts to say that?

    Prasad Moragahakanda Wednesday, 12 September 2018 02:52 PM

    Only because oil was well over $100 a barrel. Now when it is $60-70 there is no excuse except bad managemenet

    Stan Wednesday, 12 September 2018 05:45 AM

    Yes, but oil prices are about to crash again because of the new sanctions on Iran.

    Gihan Wednesday, 12 September 2018 07:22 AM

    Prices will actually rise if anything as there will be a shortage in the world market.

    Mandy Wednesday, 12 September 2018 08:25 AM

    No it is other way around. Sanctions reduce supply so price will go up from higher demand on other producers.

    Arnold Wednesday, 12 September 2018 06:19 AM

    All politicians present and past, think their only duty is to collect as much money as possible and enjoy life to the max.

    Dhammika Wednesday, 12 September 2018 07:53 AM

    At the expence of the poor voter who voted them to power ! .

    ravin Wednesday, 12 September 2018 07:21 AM

    This is purely a power struggle. Just utter something to get attention.Please note that there is a limit politic-asses can fool masses. World fossil fuel prices are not manage by grade eight standard Sri Lankan politic-asses.

    Keshav.Bala Wednesday, 12 September 2018 08:04 AM

    I hate to admit it but in this case with this particular statement as worded, it is true. Economic mismanagement to try and prove a point on corruption, nepotism, white elephants and bad investments have proved that they are miles better than the alternative proposed. The number backs up his contentions. Look at TradingEconomics or even MOFP annuap reports, what their own professiomals are telling us

    dulan Wednesday, 12 September 2018 08:25 AM

    You manged the economy well and that is why MR lost

    Sofia Wednesday, 12 September 2018 08:30 AM

    The rupee was artificially kept low by your friend Cabraal but that has other serious consequences as people are fooled thinking of cheap oil and other products and increasing consumption. This is artificial and hence the present problem of increased debt caused by your govt. and even your growth rate was false using wrong CB statistics.

    Ramesh Wednesday, 12 September 2018 09:18 AM

    See who is talking. He know's only to find fault.

    Terminator> Wednesday, 12 September 2018 10:31 AM

    This is not poor economic management. Increase of cost of living is due to high taxes to pay off the debts taken during your previous regime.

    Rasheed Wednesday, 12 September 2018 10:56 AM

    During your regime, the fuel price was over RS. 150/-, is it due to the poor management of MR.

    Malli Thursday, 13 September 2018 11:37 AM

    Hmmm only this guy knows the secret formula which starts with a M and ends with R

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