Sri Lanka's opposition presidential had promised to cut diesel prices in the hope that it would bring consumer prices down, media reports said, echoing the failed 2004 petroleum price fixing policy that sent inflation rocketing up.
Opposition common candidate retired military general Sarath Fonseka has promised to cut diesel by 50 rupees a litre from the current 73 and kerosene by 30 rupees from the current 50, within 72 hours of being elected, The Daily Mirror newspaper said.
The newspaper said Fonseka the move would "lead to a drop in the prices of essential items.
"I will take steps to bring down the cost of living within seven day upon election to office," The Daily Mirror quoted Fonseka as saying.
Sri Lanka's politicians - especially left leaning ones - persist in an extraordinary belief that inflation is not monetary but is petroleum related and specifically related to diesel.
http://www.lankabusinessonline.com/fullstory.php?nid=338335212
Opposition common candidate retired military general Sarath Fonseka has promised to cut diesel by 50 rupees a litre from the current 73 and kerosene by 30 rupees from the current 50, within 72 hours of being elected, The Daily Mirror newspaper said.
The newspaper said Fonseka the move would "lead to a drop in the prices of essential items.
"I will take steps to bring down the cost of living within seven day upon election to office," The Daily Mirror quoted Fonseka as saying.
Sri Lanka's politicians - especially left leaning ones - persist in an extraordinary belief that inflation is not monetary but is petroleum related and specifically related to diesel.
http://www.lankabusinessonline.com/fullstory.php?nid=338335212
