Govt. wasted $4.3 billion - Bandula

March 28, 2017 04:25 pm

MP Bandula Guawardana stated that the current government had wasted over $4.3 billion to prevent the Lankan rupee from depreciating, during a press conference held earlier today (28).

He further added that although the current finance minister promised to bring the buying price of the dollar down to Rs.130 within a week, it is still at Rs.154.

Bandula elaborated by saying that the money used to bring the buying price of the dollar down come from the selling foreign currency reserves to the money market.

He concluded by stating that if the government hadn’t wasted $4.3 billion on preventing the rupee from depreciating, then the country wouldn’t have had to sell the Hambantota harbor for Rs. 65 billion.

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