Former UNP Deputy Leader MP Ravi Karunanayake has warned that the value of the Sri Lankan rupee is fluctuating rapidly within a short period of time, raising concerns about economic stability.
He stated that the country must focus on importing only essential goods while taking steps to limit unnecessary outflows of foreign exchange.
Karunanayake also noted that certain economic factors, particularly rising global oil prices, are beyond Sri Lanka’s direct control in the current international climate.
He pointed out that Qatar has cautioned that global oil prices could rise to around $150 per barrel, emphasizing the need for early planning to manage such a scenario.
The MP added that it is crucial to both safeguard existing fuel stocks and maintain price stability in order to mitigate potential economic impacts.
