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Last Updated : 2024-04-28 20:04:00
13 March 2023 09:29 am - 12 - {{hitsCtrl.values.hits}}
Claiming that the country could not be developed only through the appreciation of the rupee against the US Dollar, National People's Power MP Anura Kumara Dissanayake said yesterday an overall transformation was needed to develop the country.
Speaking at a rally in Gampaha, he said the rupee appreciated just because the demand for the US Dollar has reduced due to the contraction of the economy, ban on imports and not because the Dollar supply has gone up.
"The value of the rupee against the US Dollar is decided based on the demand and supply for the US Dollar. The rupee has appreciated not because the Dollar supply has gone up but because the demand for Dollar has gone down due to import ban and contraction of the economy. The export revenue in January 2023 has reduced to USD 978 million when compared to USD 1102 million in January 2022. However, the imports have reduced to USD 1387 million in January 2023 when compared to USD 1959 million in January 2022," he said.
Dissanayake said the economy should be developed to suit the transformation and added that export revenue should be increased, new markets should be identified and export of value added goods should be promoted instead of exporting raw materials to achieve the expected targets.
He said rulers have hoodwinked the people over the years where Mahinda Rajapaksa claimed the country would be developed after finishing the war and then Maithripala Sirisena claimed that he would develop the country after eradicating drug menace, Gotabaya Rajapaksa claimed to develop the country after eradicating Covid pandemic and now people are thinking that Ranil Wickremesinghe will develop the country after appreciating the rupee against the US Dollar. The country could not be developed by improving one aspect but reform in all sectors was required for that," he said.
Dissanayake said new and broad transformation in all the sectors were required to develop the country and added that the NPP was ready to work towards that end.
He said a governance free of fraud and corruption, efficient state service, law and order, international recognition and national harmony were key aspects to develop the country and added that the NPP government would create such an environment in the country to take the country towards development.(Ajith Siriwardana)
Kirthi Monday, 13 March 2023 10:02 AM
This guy either has no understanding of the subject he is talking about or is deliberately trying to mislead the public by creating a false narrtive. The fact is that excess of supply over demand does contribute to an appreciation in a currency. Demand can be managed through initiatives like import curtailment. It should be noted that the rupee appreciation in recent days has occured within the background of loosing demand controls rather than tightening them. The more the NPP leadership talk the more apparent that they are empty vessels. I have now flagged them and red from amber. I personally have writtem them off now. Based on what their team has been articulating on different platforms lately they could be worse than the R family in stewarding our economy.
Shariq Monday, 13 March 2023 10:55 AM
I second this statment. NPP leadership would do more harm than good.
johan Monday, 13 March 2023 10:09 AM
They are the correct people at this crucial time when we are trapped with around 55 billions USD debts.May be to pay back we need more than 10years.People have to suffer till that time.Magic is impossible
SCRanjithA Monday, 13 March 2023 10:31 AM
NPP knows that appreciation of LKR is only one aspect of welcome trend. But due to political reasons does not want to acknowledge it to the public. Ofcourse all other attributes of à good governance AKD stated are very important to develop a country. However ss it is the country had fallen flat on the ground. It has to be built up stage by stage. It is the primary duty of the government in power, but for its success there should be a 360° change of attitude of the people.
DPerera Monday, 13 March 2023 10:37 AM
What is your explanation for depreciation of Rupee during last few days?
Sandy Monday, 13 March 2023 11:27 AM
The economy suffered due to covid crisis and unnecessary protests. You people have not done anything good for the economy in your entire political history.
anil Monday, 13 March 2023 11:56 AM
should nominate this guy for Noble prize in economics
Dee Monday, 13 March 2023 12:01 PM
How many transformers does Sri Lanka have? Take a count, then allocate your people who win elections to ‘take care’ of them like in 1987. Then you can solve the electricity bill problem of the people!
Be Fair Monday, 13 March 2023 12:54 PM
So there was nothing the able CBSL Govenor actually did..?
Cheers Monday, 13 March 2023 01:33 PM
People will kick you the gallows in the election
B Monday, 13 March 2023 02:58 PM
Always have something to say evenness good that's JVP for u . And do u expect this country to do well !!!!!!
Economist Monday, 13 March 2023 11:42 PM
It has to be two states in one country.
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