Harsha says funds saved by sinking oil prices should be utilized for public welfare

The funds which the government is saving as a result of plummetting oil prices should be used to provide a weekly cash transfer or voucher for Rs 5,000 for the daily wage earners and self employed, former Minister Harsha de Silva said yesterday.  

“Given that oil prices have plummeted almost 60 %, the monthly saving of anywhere between Rs 20b to Rs 40b from oil import costs (depending on reduced use) should be utilized for this purpose,” Dr De Silva said in a statement over Facebook.   

Asked whether he would make a formal request from the government to this effect, Dr De Silva said it will not be necessary.   

“I have constructed this argument over the last 2 weeks. I have given data and I have articulated why the 5,000 per week in my facebook post. It is seen by them. They must act. I am glad they decided on Rs 5,000 May be my suggestions also helped. But they have to do more,” he said in this regard.