Country facing acute forex shortage – Navin

On Jul 12, 2021

Special permission is now required to send money even to a student studying in a foreign country, former Minister Navin Dissanayake stated. Addressing a press conference in Colombo recently, Dissanayake stated that this Government reduced the VAT that existed during their Government. The Government believed that it would stimulate the economy.

But the country’s revenue sources have completely collapsed.

“There is a problem with the country’s foreign exchange. It also affects the fertilizer issue. Now the country has no dollars. The Central Bank has imposed rules on banks to release dollars only to specific industries and sectors. Special permission is also required to send money to a child studying in a foreign country. There are no dollars to send even US$ 500,” he added.

“The swearing in of Basil Rajapaksa as the Minister of Finance is no surprise to the UNP. The Ministry of Finance is the heart of the country. While congratulating Basil Rajapaksa, we hope that he will reduce the prices of goods and create an economy where the people can live with dignity,” he noted.

“I declare responsibly that the tea industry is collapsing rapidly. Production is significantly reduced due to the fertilizer problem. We produce about 300 million kilogrammes of tea. Although the Tea Board says that it can produce 270 million Kg this year, it cannot be possible. There are 138,000 small tea estates. If the tea industry falls, it will be a problem for around two million who depend on tea cultivation to survive,” Dissanayake said.