Home Affairs Minister calls for expat funds to control rupee

Saturday, 29 September 2018 01:07 - - {{hitsCtrl.values.hits}}

Home Affairs Minister Vajira Abeygunawardene

Abeygunawardene suggests allowing foreign exchange to be remitted with no questions asked, free of taxes
Pledges economy well-managed; commends President, PM and Finance Minister for upholding economy amidst global economic crisis
Insists people should not panic even if dollar exceeds Rs. 200; assures Govt. won’t put public in trouble

As a measure to control the depreciating rupee, Home Affairs Minister Vajira Abeygunawardene suggested giving an opportunity to expats to bring in foreign currency with no questions asked and free of taxes.

“I think we should give the opportunity to those who had worked abroad for over 30 to 40 years to bring money free of taxes, no questions asked. We need to bring in foreign currency from any part of the world to control the dollar, even with the clause of ‘no questions asked’. Although this is a suggestion, I think it will be a good alternative to mitigate the current situation. We need the support of all parties on this endeavour,” the Minister said on Thursday in Gampaha.

Opening two official quarters in Yakkalamulla and Magedara constructed at a cost of Rs. 2 million each in Yakkalamulla Divisional Secretariat, he pointed out that the dollar strengthened as a result of the economic recovery in the US and the effects were being felt by all countries in the world.

Understanding this world scenario Abeygunawardene said the Government was prudently managing the economy. “We must thank President, Prime Minister and Finance Minister for maintaining our economy amidst the economic crisis in the world,” he added.

The Minister assured that the state of the economy had vastly improved compared to the previous regime, insisting to the general public that the Government would not put them in a challenging situation.

“People will say the dollar has grown considerably, but do not worry even if it exceeds Rs. 200. We are managing the economy. The LP gas prices went up recently, but it is still lower than price during the previous administration. If the economy is mismanaged, we cannot provide gas, oil or milk powder at a lower price than the former Government in this way. There was an era where they asked people to eat manioc or sweet potatoes. We will not put people in trouble.”

Parliamentarian Bandulal Bandarigoda, Co-Chairman of the Yakkalamulla Divisional Coordinating Committee and many local politicians and Government officials participated in the event.