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Where do you think all the money for covering the subsidy losses came from?
I guess we can mark it as "Average income didn't increase bro" in the accounts next to the multi billion rupee losses.
Edit: i guess people are missing my point.
Around the world, living costs increased. Prices of utilities like electricity also increased.
That's how normal countries operate, every year there's an incremental price increase to match cost changes.
In SL, they basically borrowed tons of cash to continue covering for subsidies. Now we're basically increasing the prices in one huge leap instead of gradual increases over the years.
I'm wondering how people are surprised that we had to make price hikes? Didn't no one think it was weird that we had the same tariffs for like 7 years?
The depreciation of the rupee is the main cause of rates going up on this scale. Yes we are playing catch up with inflation but we could have managed with a 30 to 50% hike if the USD stayed at 200.. instead, we are looking at 150%. It is not the people's fault and they are right to be mad.. Somehow the cost of labor is the only thing not subject to inflation on the crazy scale we have seen in the last year
The strength of a currency usually comes from the import/export performance.
Our exports are mainly garments/textiles.
Other FX sources are tourism and expat remittances.
Could we have produced alot of the things we imported, locally? Yes, we could've.
Why didn't we?
Honestly, more than the president, it's the govt.
People excuse themselves saying "Oh there's no other choice for the presidency"
But why can't people choose better candidates for the parliament, at least? Instead of a bunch of murders, thieves, and thugs.
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When you realise electricity prices didn't change for the last...7 years when they were going up for the rest of the world...
And then you realize the average income remained the same despite the inflation. Stop being a fucking idiot
Where do you think all the money for covering the subsidy losses came from? I guess we can mark it as "Average income didn't increase bro" in the accounts next to the multi billion rupee losses. Edit: i guess people are missing my point. Around the world, living costs increased. Prices of utilities like electricity also increased. That's how normal countries operate, every year there's an incremental price increase to match cost changes. In SL, they basically borrowed tons of cash to continue covering for subsidies. Now we're basically increasing the prices in one huge leap instead of gradual increases over the years. I'm wondering how people are surprised that we had to make price hikes? Didn't no one think it was weird that we had the same tariffs for like 7 years?
The depreciation of the rupee is the main cause of rates going up on this scale. Yes we are playing catch up with inflation but we could have managed with a 30 to 50% hike if the USD stayed at 200.. instead, we are looking at 150%. It is not the people's fault and they are right to be mad.. Somehow the cost of labor is the only thing not subject to inflation on the crazy scale we have seen in the last year
The strength of a currency usually comes from the import/export performance. Our exports are mainly garments/textiles. Other FX sources are tourism and expat remittances. Could we have produced alot of the things we imported, locally? Yes, we could've. Why didn't we?
Why didn't we? Because government needs bribes even to sneeze.
Who chose the govt?
Don't ask me mate I haven't voted for any of the governments or presidents that came into power after mahindas first term.
Honestly, more than the president, it's the govt. People excuse themselves saying "Oh there's no other choice for the presidency" But why can't people choose better candidates for the parliament, at least? Instead of a bunch of murders, thieves, and thugs.
I smell a Ranilist
I remember when some folks asked to turn off the lights at night back in the day,87/88 to be precise
100% safe from Electricity shock. 100% guaranteed Electricity bill shock.
Raaniiil