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Rupee depreciation led to fuel hike: Ravi

11 May 2018 11:44 pm - 12     - {{hitsCtrl.values.hits}}

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Several causes including the depreciation of rupee to satisfy the IMF had resulted in the increase of fuel prices, former minister Ravi Karunanayake said today.

He said the increase of fuel prices in the international market may have also played a role in increased prices.

“If we reduced taxes on fuel, there is no need to increase fuel prices. We don’t have to execute all IMF proposals. We should only take what’s good for us. Though the government was changed the state officials remain the same. Ghosts of the previous government still haunt the Central Bank and parts of the Finance Ministry. We said these things back then as well,” he said.

Instead of increasing prices of fuel, taxes on fuel should have been reduced or other alternatives should have been sought,” he said.

He said that for the first time in the history fuel price to be revised every two months affecting many sectors including the transport sector in the country.

However, the MP said as we cannot control the world market there should be a solid mechanism such as maintaining fuel stocks which could be used when world market prices go up.

He said introducing price formulas to revise the prices twice a month would not be an efficient method and therefore country need to focus on a lasting method. (Thilanka Kanakarathna)

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  Comments - 12

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  • Sambo Saturday, 12 May 2018 12:38 PM

    Now everything has become the fault of the IMF even when you were the minister you were working to the whims of the IMF.

    dickie bird Saturday, 12 May 2018 12:38 PM

    Ratata kakkuma ? My foot.One umma from Mangala was not enough?

    sab Saturday, 12 May 2018 12:57 PM

    Biggest fat thief we had and still advising Us and planing to rob poor sri lankas , go to hell Ravi thife

    Gona Saturday, 12 May 2018 12:58 PM

    Mind your own business. The the less we-see or hear from you the better . Let the appointed ones give press releases rather than a rogue

    JIM Saturday, 12 May 2018 01:00 PM

    Why, thank you RK, aren't you clever !!!!

    jay Saturday, 12 May 2018 01:19 PM

    Ravi is speaking as a failed politician looking for a comeback. He is a proven cheat and will never do anything for the people. He only wants a position where he can use influence to make money.World market prices fluctuate and this will effect fuel prices in Sri Lanka until we find a way of avoiding our dependence on imported fuel. Even if we find il in Sri Lanka the politicians will use it for political gain and the cost will be hire than importing from overseas.

    Gamaya Saturday, 12 May 2018 01:30 PM

    Ravi oh Ravi when will you ever learn or depart?

    Keith Saturday, 12 May 2018 02:07 PM

    He is trying to gaing his popularity by being critical now...he was able to reduce the price og fuel because world market prices came down not because of his own ability

    Ajja Saturday, 12 May 2018 02:15 PM

    Horage Ammagen Pena Ahanawa wage.....

    Palli Kanda Saturday, 12 May 2018 02:20 PM

    Look whos talking!!!!Trying to find the backdoor to enter Parliament. But I bet, one of the stupid leaders who has hoodwinked the entire nation will find a chair for him.

    CS Saturday, 12 May 2018 02:43 PM

    Ravi, just fade away.. disappear, never to be seen again. Your implying that Min. of Fin. Mangala Samaraweera and Gov. of CB ‎Indrajit Coomaraswamy are to blame. Your government needs the tax income on fuel to survive, to nourish leeches like you. The World Bank is giving us guidance to improve our economy and governance. Good or bad the fuel pricing formula is one them. Something that the JO is going hoarse criticising, now you are joining them. For what? Do you really think we will believe you? Vote for you? The answer is never.PS; Why do you talk as if a frog is stuck in your throat?

    Raja Perera Saturday, 12 May 2018 03:05 PM

    Mr.Alimankada’s stupid comment, a liter of petrol inIndia is Rs 178/-, oil producing country like UAE, revises the oil price every month, the current price of a liter of petrol in UAE is AED 2.37/- (special 95), that is equivalent in today’s exchange, this will be Rs 102/-. Subsidizing the oil price is not the answer, everyone around should be responsible by cutting down on unnecessary travel and so forth.


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