Marikkar rejects Govt claims on rupee fall and IMF price hikes

Samagi Jana Balawegaya (SJB) parliamentarian S.M. Marikkar says the government is hiding behind International Monetary Fund mandates while mismanaging the national currency and failing to prevent a massacre at Negombo Prison.

The opposition lawmaker firmly rejected the government's official narrative that the sharp depreciation of the rupee is a positive development for the export sector.

While acknowledging that exporters earn more in local currency terms during a depreciation, Marikkar stressed that this argument ignores the structural realities of the country's import-dependent economy.

Because the nation relies heavily on foreign imports for essentials like fuel, medicine, and food, a weaker rupee causes massive economic losses, inflates the trade deficit, and drastically increases the number of dollars required to service foreign debt.

He stated that the country desperately requires a proper, structured programme to manage its dollar earnings rather than letting the currency slide.

He dismissed the government’s attempts to blame the IMF for soaring prices and high taxes.

He remarked that IMF principles are not rocket science, explaining that the lender merely acts like a standard commercial bank assessing a borrower's ability to repay.

He said that the stringent conditions, high taxes, and price hikes are a direct consequence of the government's failure to expand the national income base. According to the opposition legislator, the government has failed to introduce effective measures to boost dollar inflows or create new investment opportunities, choosing instead to blindly follow external instructions.

Marikkar also addressed the recent fatal unrest at Negombo Prison, labelling the tragedy a massacre that occurred because authorities completely failed to control the situation.

He highlighted that out of approximately 2,400 inmates held at the facility, only a small faction was involved in the disturbance. Reminding the current leaders that they held the state strictly accountable for past prison riots when they were in opposition, he insisted that the government bears total responsibility for the safety of individuals in its custody.

He said that the opposition is not only raising the issue in Parliament but is also actively moving a no-confidence motion against the Minister of Justice.