Tuesday, February 27, 2024
HomeNewsPrevailing prices of commodities cannot be reduced further - Sagala

Prevailing prices of commodities cannot be reduced further – Sagala

Sagala Ratnayaka, the President’s Senior Adviser on National Security and Chief of the Presidential Staff, states that there is no possibility of further reducing the prevailing prices of commodities.

Ratnayake expressed that since the rupee is appreciating very slowly, what needs to be done now is to take steps to increase the income of the people.

“The price of goods has been brought to the lowest possible point. The prices of some goods like vegetables, fluctuate frequently. However, in terms of foreign exchange, the prices of goods have reached the lowest point”, he said.

“Further appreciation of the rupee is happening very slowly. All we have to do now is to increase the income of the people. Otherwise, we have to make the income of people match the tripled prices of goods.”

Meanwhile, he also said that although the salaries of government employees are increased by Rs. 10,000 from this year, that amount is nowhere near enough to cover the expenses considering the price hikes.

“But the government has given the increment that it can afford this year. The next challenge is to increase the revenue.”

Furthermore, he mentioned that the economy of the country is gradually being strengthened as a result of the procedures implemented by the government.

source adaderana

Headline inflation as measured by the Year-on-Year change in the National Consumer Price Index (NCPI) has decreased to 70.6% in October
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