Former United National Party Deputy Leader and Parliamentarian Ravi Karunanayake has called on the Government to immediately abolish the Rs. 2.5 billion subsidy reportedly provided to private-sector fuel suppliers.
Karunanayake argued that private companies were given access to Sri Lanka’s fuel market with the expectation that they would invest and operate for profit, and therefore the Government should not be providing subsidies to foreign fuel companies.
He said the Government should reconsider the subsidy arrangement and ensure that public funds are not being used to support private fuel suppliers.
The MP also urged the Government to pay close attention to former President Ranil Wickremesinghe’s recent warning that Sri Lanka could once again face an economic recession.
Karunanayake noted that Wickremesinghe played a key role in stabilizing and rebuilding the Sri Lankan economy following the country’s 2022 economic crisis.
He therefore stressed that such a warning from a former leader who was directly involved in the country’s economic recovery should not be dismissed lightly.
