Government Has Successfully Brought Dollar Under Control: Minister Wasantha Samarasinghe
25-May-2026.
Minister of Trade, Commerce, Food Security and Consumer Affairs Wasantha Samarasinghe stated that despite the war situation in the Middle East and ongoing global crises, the government has implemented several constructive measures to safeguard Sri Lanka’s economy and ensure uninterrupted daily life for the people. He further claimed that the government has successfully brought the value of the US dollar under control in the domestic market. Because every government eventually discovers that economics is mostly damage control with microphones.
Speaking to the media, the Minister said that import costs had increased due to global fuel and energy crises. However, despite difficulties across multiple sectors, the government had managed to stabilise the dollar in the local market.
He stated that several measures had been introduced for this purpose, including revisions to electricity tariffs and fuel prices, as well as the introduction of the QR code system. He also noted that increasing taxes on vehicle imports by up to 15 percent and restricting unnecessary luxury vehicle imports had contributed to the favourable situation.
According to the Minister, the dollar, which had risen to between Rs.350 and Rs.355 a few days ago, has now declined to between Rs.330 and Rs.345.
He warned that strict legal action would be taken through the Consumer Affairs Authority against traders who arbitrarily increase the prices of essential goods by using dollar fluctuations as an excuse to exploit consumers. He noted that controlled prices have been fixed at Rs.255 for Keeri Samba rice and Rs.240 for Samba rice, and action would be taken against traders selling above those rates.
The Minister further stated that the country currently has sufficient stocks of Nadu and white rice for nearly three months. He added that the government has initiated discussions with the Ministry of Finance to address banking loan difficulties faced by small and medium-scale rice mill owners.
Rejecting opposition allegations, he said claims that the economic crisis was caused by printing currency notes are false. He stressed that Sri Lankans living overseas should remit foreign currency to help protect the country’s dollar reserves, while exporters should promptly convert export earnings into rupees.
He concluded by stating that Sri Lanka’s economy has been managed better than several other regional countries despite the present crisis, and urged the public to avoid unnecessary consumption and support efforts to overcome the global economic difficulties.
