Cost of living will be reduced by adhering to policy decisions already made: President

Sep 02, 2020 (LBO) – President Gotabaya Rajapaksa emphasizes that appropriate measures will be taken to reduce the cost of living by implementing the decisions already taken while adhering to a consistent policy without moving backwards.

Prices of several consumer goods, including turmeric, have risen due to decisions taken to uplift local agricultural industry and the farming community. President Rajapaksa points out that if turmeric and other commodities are imported to control or bring prices down, the desired objective will never be achieved.

The President says that even though public faced difficulties for a short period of time, measures that are taken to strengthen the rural economy and uplift the farming community cannot be reversed.

The President made these remarks at the first Cabinet Sub Committee meeting on Cost of Living held at the Presidential Secretariat, on Monday.

During the meeting, it was discussed in detail regarding the impact of the rise in prices of several essential commodities on the economy of the urban middle class.

‘In order to earn a stable and strong income for the rural farmers who make up about 40% of the population, we need to develop confidence that they would get a high price for their produce and assure a stable market for them’ President said.

President highlighted the need for proper procedures to address the issues faced by the middle class in the suburbs due to inflation. Following the COVID 19 pandemic, the government took steps to deliver the farm produce directly to the consumers at a subsidized price.

President noted that continuing this practice would remove the middlemen and their exploitation and protect both the farmer and the consumer.

“Promoting the economic condition of the people in remote areas and reducing the cost of living burden of the people in the suburbs should be addressed simultaneously” he stressed.