UNP Deputy Leader MP Ravi Karunanayake has cautioned that the current government may devalue the rupee to benefit a select group.
Speaking to the media, he emphasized that a depreciating rupee, coupled with tax hikes to stabilize it, would add Rs. 300 million to government expenditure. He stressed the need for sound monetary policies and highlighted that car imports do not directly contribute to rupee depreciation.
Karunanayake underscored the importance of attracting investors and strengthening trade with India. He also advocated for a foreign policy that engages China, the U.S., Europe, and Japan while continuing the open economic model initiated by J.R. Jayewardene. Confident in the UNP’s economic strategy, he asserted that their program is on the right track.
