Some Research Firms accused of making false, unsubstantiated reports on economy

• These firms are giving false reports just to earn money

By Yohan Perera

Some research firms portray a misleading picture of Sri Lanka’s economy, Senior Advisor to the President Prof. Ashu Marasinghe alleged yesterday.

“These research firms are engaged in the wrongful act of giving false reports on the local economy just to earn money,” Marasinghe told a briefing.

“One of the research firms have said that the monthly expenditure of a Sri Lankan household would increase by Rs 40,000 when the Value Added Tax (VAT) comes into effect next month. One wonders as to how this firm came to such a conclusion,” he said. 

“Rice, wheat flour, all fruits, fish, educational services, transportation, agro-products and power will be exempted from VAT. Therefore, one wonders as to how these research firms conclude things,” he added.

“There are some which claim to be research firms. However,  they publish false information. One firm has claimed that Sri Lanka will be left with a population of only 25,000 in a few years’ time. How can these firms make such predictions?” he questioned. Also, he reiterated that some audit firms are encouraging people to evade paying income tax.