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Message: <blockquote data-quote="lkdood" data-source="post: 7591359" data-attributes="member: 92282">The main opposition UNP yesterday said it was beyond reasons as to why  the government slashed import duties on luxury items instead of reducing  taxes on the imports of essential items such as milk powder, canned  fish and domestic gas consumed by the ordinary people.     Addressing a news conference, UNP General Secretary Tissa Attanayake  said the people were reeling under the high living costs.     “Recently, the government increased wheat flour and gas prices saying  fluctuations in the world market warranted it. Milk powder importers  have asked for a price hike. Then, we cannot understand why the  government brought down taxes on vehicle imports. For whose benefit was  it done?” he asked.       The General Secretary said this had been done on a request by the IMF.     UNP National List MP Dr. Harsha de Silva said the government had done  this to increase its tax revenue, but the move would have dire  consequences on the economy.      “Now, more and more vehicles and luxury items will be imported. When  there are more import volumes, the government can increase its tax  revenue. In this situation, the demand for US dollars will also increase  for the import transactions. Eventually, the rupee will drop against  the dollar further,” Dr. de Silva who is an economist said.     He said, “Sri Lanka is likely to lose the GSP + concessions on its  exports to the European Union.  Further, the purchasing power of the EU  countries has declined today due to the recession. In such a situation,  the Sri Lankan government has taken this decision to devalue the rupee.”     He also asked why the government could not exempt the import duty of  Rs. 85 on a kilo of tinned fish   in the interest of ordinary people.      Commenting on the performance of the Colombo Stock Exchange, he said  that foreign investors do not transact in it as such nowadays.      Asked about the latest Cabinet decision to exempt taxes on the imports  of foreign currency notes, he said that he had no idea about it at the  moment.     “I have no idea in this regard. Who is importing dollar notes in bulks?  Anyway, this is a country where even money laundering takes place,” he  said.<a href="http://www.dailymirror.lk/print/index.php/news/news/12265.html" target="_blank">dailymirror</a></blockquote>

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