Friday, 30 January 2015 00:00
It is happy to note that fuel prices have been reduced materially which will reduce the cost of living. Public is thankful to the President for this action.
However fuel prices should not vary as and when the World prices change. It is necessary to maintain a static price for some time which will stabilize the economy.
It will help in programming future plans in a realistic manner.
Further, prices do not come down every time fuel prices are reduced, but will increase tremendously when fuel prices are increased.
In accordance with Expert Opinion it is better to stabilize the fuel prices for a considerable period of time and make the adjustment in “the fuel adjustment account”. i.e changes in the world fuel prices are transferred to fuel adjustment account and revised after a considered time.
Hope this matter would be considered for necessary action after consulting Economic Experts.
S.R.Balachandran BSc.FCA,FCMA (Sri Lanka)