Former UNP Deputy Leader MP Ravi Karunanayake has raised concerns over the vehicle import program, warning that if not properly managed, it could significantly affect the country’s foreign reserves.
Karunanayake emphasized the need for the government to increase exports while implementing the decision to import vehicles. He further explained that the Central Bank should take the dollar amount available on behalf of the government as per the IMF agreement. If there are more dollars in the country than the Central Bank takes, it will prevent any negative impact on the rupee. However, if export income does not match the expenditure on imports, it could lead to a depreciation of the rupee against the dollar.
The MP cautioned that, given the current economic situation, there is a possibility of this issue arising in the future.
Karunanayake also stressed that the government should not jeopardize the future of 2.2 million people for the benefit of just 40,000 to 50,000 people.
