Former Deputy Leader of the United National Party, MP Ravi Karunanayake, says Sri Lanka should focus on attracting investments into the country as a key strategy to stabilize the value of the rupee amid ongoing exchange rate pressures.
Speaking to the media, the MP stated that the government does not appear to be offering practical solutions to address the current economic challenges.
Karunanayake pointed out that previous governments had also faced similar economic crises but had managed to overcome them through targeted economic strategies.
“Remember, during the Yahapalana government, there was the ability to keep prices stable for three and a half to four years without major disruptions. At that time, there was also the Iraq war, the Iran conflict, and various other global challenges. Oil prices also fluctuated,” he said.
The MP argued that earlier administrations responded to such challenges by strengthening the economy and implementing programs aimed at managing external shocks.
According to Karunanayake, Sri Lanka currently lacks a similar practical approach to address present-day economic pressures.
He stressed that attracting investments, strengthening economic activity, and adopting practical economic policies are essential to managing currency pressures and improving economic stability.
“We need to respond with a practical vision. Whether it is the President or the Finance Minister, practical answers must ultimately be provided to these problems,” he said.
His remarks come amid continued concerns over rupee depreciation, foreign exchange pressures, and broader economic challenges facing the country.
