Fuel prices, electricity tariff can be lowered now: Champika

Prices of fuel and tariff on electricity could be reduced by a considerable proportion now as the rupee has gained against the US Dollar, Parliamentarian Patali Champika Ranawaka said.

He said the CEB and CPC are earning massive profits now. "But, it is sad to say that the tender procedure to import fuel and coal seems very corrupt," he said.

The MP said US Dollar was depreciated against the rupee as the demand for the US Dollar has decreased since Sri Lanka has defaulted repaying loans, restriction on imports and fuel consumption minimised.

He said the Dollar would again go up if Sri Lanka started paying loans obtained from overseas and allow imports by annulling import restrictions.   

"We cannot say that the Dollar would remain at a stable exchange rate of Rs. 200 or 300. If we start paying the loans, remove import restrictions and allow imports, the Dollar will definitely go up again, “he said.