Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe stated that the rise in global prices is beyond domestic control and that any reduction in the supply of fuel and gas will inevitably lead to a surge in prices.
The Minister noted that price increases have already been reported internationally and stressed that Sri Lanka will also have to bear the impact, as it is part of a global economic trend that cannot be prevented.
Addressing the media, Samarasinghe said the ongoing tensions in the Middle East are affecting the entire world and creating major challenges for countries engaged in import and export activities, particularly those dependent on maritime shipping routes.
He emphasized that Sri Lanka cannot control global price movements and warned that if the supply of fuel and gas is restricted, prices will naturally escalate. The Minister added that price hikes have already been recorded globally and that the country will inevitably have to face their impact.
