President vouch that increase in VAT would not be allowed

President vouch that increase in VAT would not be allowed

Speaking at a public meeting this morning in Polonnaruwa President Maithripala Sirisena had clearly said that there had been news published in certain media that commencing from the 2nd May the VAT component would be increased up to 15 %.

He had added that there are certain financial consultants who attempt to add revenue to government

coffers not withstanding the fact that this would affect the living of the poor masses.He had said that he would not allow that to happen.In that event he may even send these financial consultants home.

In the event the increase in the VAT component is made would affect the charges on   telephone,water,electricity,private hospitals.private schools and on many other payments.

He had insisted that if at all an increase in VAT component is made it should affect the lives of poor people by burdening them.The President had also said that it had not been explained how the increase would affect the poor peoples economy.