COLOMBO (News 1^st) – Former Minister of Finance UNP Parliamentarian Ravi Karunanayake says that the ghosts of the past administration continue to haunt Sri Lanka’s economy. Karunanayake claims that this is the main reason for the Sri Lankan rupee’s depreciation.

Karunanayake accused the former administration of financial mismanagement and also took aim at some other politicians who he described as “theoretical politicians”.  According to the former Minister, these theoretical politicians support the move to allow the rupee to float.

However, the former Finance Minister questioned how this is good for the country and argues that due to the depreciation of the rupee the country has to spend additional expenses through the budget.

Journalists also questioned the MP on the fuel price hike, Karunanayake evaded the question by simply saying that he is no longer a member of the cabinet and requested the journalists to pose their questions to those in the cabinet at present. However, he did not fail to take credit for mantaining low fuel prices during his tenure as finance minister.