Premadasa Declares Vehement Opposition to VAT Hike

COLOMBO (News 1st); Amidst Sri Lanka's ongoing economic turmoil, Sajith Premadasa, the leader of the opposition, has unequivocally denounced any potential increase in the Value Added Tax (VAT).

Premadasa cited official statistics to highlight the severity of the crisis. He claimed that 60% of Sri Lankan households have experienced income reductions, while 90% have seen their expenses surge. More strikingly, he stated that 22% of households are severely impacted by the economic crunch.

The opposition leader questioned the government's proposed solution of resorting to further VAT hikes. He argued that with increased costs, declining revenue, and educational challenges already plaguing the populace, imposing additional burdens on essential commodities would be detrimental.

Premadasa reiterated his stance on holding those responsible for the economic crisis accountable. Referring to the Supreme Court's pronouncement on fundamental rights violations, he stated that the perpetrators would face legal consequences. He further asserted that his party wouldn't just pursue legal action but also implement measures to recoup the lost national wealth.