Former UNP Deputy Leader and MP Ravi Karunanayake says the peace agreement reached between the United States and Iran presents an opportunity for Sri Lanka to reduce fuel prices and electricity tariffs.
Speaking to the media, Karunanayake argued that just as local fuel and electricity prices are increased when global oil prices rise, they should also be reduced when international oil prices decline.
He also called on the Central Bank to lower interest rates, saying the justification for maintaining high rates due to inflationary pressures arising from the conflict no longer applies.
Karunanayake said a reduction in interest rates would ease the burden on the public and provide the government with greater fiscal flexibility.
He further stressed that the Central Bank should not act in isolation, but should coordinate its decisions in a manner that supports both economic recovery and public welfare.
