New regulations can lead to unbearable inflation - a warning from Economists

COLOMBO (News 1st): Economists predict that the prices of commodities will also rapidly increase in the future due to the new regulations imposed by the Ministry of Finance. According to the Economists, Industrial products will suffer the worst consequences. "The limitation of imports due to discouragement of importers is the dire effect of the new regulations," said Professor Milton Rajarathne of the University of Peradeniya. Professor Sirimal Abeyrathne of University of Colombo said the new regulations can lead to unbearable inflation. He added that these issues can only be tackled by promotion and improvement of our exports and encouraging investors. He further noted that none of these measures encourage investors.