Minister Wasantha says Sri Lanka will also have to bear global price increases

2026-03-07 - 16:27

Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe says that global price increases cannot be controlled by Sri Lanka and that prices will rise if the supply of oil and gas is reduced. The minister said that price increases have already been reported and that such increases will inevitably have to be borne by Sri Lanka as well, adding that it is a situation that cannot be prevented. He further stated that the current situation in the Middle East is one that affects the entire world, and that it poses a major problem, particularly for countries that rely on shipping routes for imports and exports. Commenting further, Minister Samarasinghe said: “The situation that has arisen in the Middle East affects the entire world. It is a problem, especially for countries that carry out imports and exports through shipping routes. We cannot control global price increases because if the supply of oil and gas is reduced, prices will rise. Price increases are already being reported, and those increases will inevitably have to be borne by us as well. It is not something we can stop.”