Rs. 7 b hedging losses paid from public coffers

Saturday, 20 July 2013 00:36 - - {{hitsCtrl.values.hits}}

UNP MP Dr. Harsha de Silva recharged his salvos against the Government’s hedging decision, which went awry resulting in payment of Rs. 7 billion to banks. Questioning where the justice is for the people, Dr. de Silva noted that nearly four million poor households paid Rs. 5.48 billion in fuel adjustment taxes to the Government annually as part of their electricity bill. “Even when it’s raining, the Government cannot reduce the fuel adjustment charge tacked onto the electricity prices. Why is this? Why are the people made to pay for colossal losses that are no fault of theirs? The hedging fines are paid from people’s money, from the milk powder, onion and dhal that they buy.”

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