First of all, we need to stop complaining. When we can’t accept something, we struggle with it. What happens outside is out of our control, but rather than reacting we can respond and take necessary actions like buying local products and empowering simple farmers by buying from them (milk, eggs and stuff).
Cost of living increase is unavoidable with rupee depreciation and other inflation factors. We need a floating rate for foreign exchange. It’ll further increase some prices in short term, but exchange rate will stabilize in few months after absorbing the initial shock. It’ll be easy to provide relief to the needy as cash handouts and through Sathosa /cooperatives. No need to subsidize the prices for the whole population. Without letting the free market to decide, we fix interest rates and exchange rates. In addition to the businesses, Licensed Commercial Banks (LCBs) are also now handicapped. Our blunders are throwing the economy under the bus.
The price of essentials should be controlled in some way, maybe by not imposing taxes on them so that the poor are not affected. We should also encourage people to buy Sri Lankan products. Steps really must be taken to protect the poor and also collect taxes from the rich – many don’t pay any tax!
First of all, we need to stop complaining. When we can’t accept something, we struggle with it. What happens outside is out of our control, but rather than reacting we can respond and take necessary actions like buying local products and empowering simple farmers by buying from them (milk, eggs and stuff).
Cost of living increase is unavoidable with rupee depreciation and other inflation factors. We need a floating rate for foreign exchange. It’ll further increase some prices in short term, but exchange rate will stabilize in few months after absorbing the initial shock. It’ll be easy to provide relief to the needy as cash handouts and through Sathosa /cooperatives. No need to subsidize the prices for the whole population. Without letting the free market to decide, we fix interest rates and exchange rates. In addition to the businesses, Licensed Commercial Banks (LCBs) are also now handicapped. Our blunders are throwing the economy under the bus.
The price of essentials should be controlled in some way, maybe by not imposing taxes on them so that the poor are not affected. We should also encourage people to buy Sri Lankan products. Steps really must be taken to protect the poor and also collect taxes from the rich – many don’t pay any tax!
The cost of gas and fuel depends on external prices; electricity and water, partly. Overall, a local cost analysis is necessary to control increases.