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MP Ravi Karunanayake stated that the Rupee should not be devalued to allow vehicle imports for the satisfaction of a few.
Addressing a press conference yesterday (16) Karunanayake further mentioned: “if more taxes are imposed on the people, the country’s economy would be distorted as they would be unable to pay. Before opening up vehicle imports, an economic policy that can generate revenue without devaluing the rupee should be implemented.” The MP pointed out that the public voted for the new Government based on promises of providing vehicles at 1.2 million rupees and reducing fuel prices. He warned that if imports exceed exports, the Rupee would start to depreciate. He emphasised that since the State revenue requirement for this year is Rs.5,000 billion investment promotion is essential. He also noted that ships returning without unloading their cargo is detrimental to the country.
