Champika attributes high prices of fuel and power to corruption

Sky-high taxes on fuel and electricity could be brought down if not for the corruption prevailing in their procurement processes, says leader of the ‘43 Brigade’ MP Patali Champika Ranawaka.

Speaking to the media on Monday at the 43 Brigade headquarters in Colombo MP Ranawaka said that the fuel and electricity prices could be brought down immediately. “We used to pay a huge bill for fuel. There was a time we had to purchase a barrel of crude oil at USD 130. In recent times this dropped to USD 70. As a result payments in our import bill has decreased. As such the taxes on fuel and electricity could be pruned down,” he said.

MP Ranawaka said that the fuel procurement process remains to be one of the most corrupt sectors in this country. “Corrupt practices are still prevail and that prevents the price reduction. Otherwise the bills for fuel and electricity could be reduced by considerable amounts,” he said.

Asked to comment on Sri Lanka securing the IMF bailout, the MP said: “We have to remember that we have to face the most serious problems when we act according to the IMF agreement. That means negotiating with our local creditors and foreign creditors according to the credit standards decided by the IMF. There are several main issues that arise in it. One is that some creditors have told us that they are international multiple creditors. That means that the loans of the Asian Development Bank and the World Bank need to be restructured.”