President says Cost of Living will be reduced

President says Cost of Living will be reduced

President says Cost of Living will be reduced

Written by Staff Writer

31 Aug, 2020 | 9:49 pm

COLOMBO (News1st): President Gotabaya Rajapaksa has said that the Cost of Living would be reduced by implementing the appropriate policy decisions to uplift the economy.

During a meeting with the cabinet Cost of Living committee, the President had said that the steps taken to uplift the rural economy and the farming community will not be reversed despite short-term difficulties.

He had pointed out that the prices of goods including turmeric had risen due to the decisions taken to uplift local industries and the farming community, the President’s Media Division said.

The President had added that the expected economic targets could not be achieved if commodities are imported amidst price controls or a lower ceiling price.

He had insisted that the rural community must not be encouraged to enter farming without establishing a good price and a stable market for their produce.

President Rajapaksa had also apprised the Cost of Living Sub Committee on the difficulties faced in lifting import restrictions.

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