While the government of President Mahinda Rajapakse continues to squeeze the wages and living conditions of Sri Lankan workers and the poor, the banks and major corporations and their CEOs are reaping large profits and salary remunerations.
On May 4, the government, in line with austerity measures dictated by the International Monetary Fund (IMF), increased the price of imported powdered milk, cooking gas and cement by about 25, 16 and 10 percent, respectively. The rises followed last month’s 10 percent lift in the price of flour, which is the main staple of Sri Lanka’s poor, especially plantation workers. Taxes on alcohol, cigarettes and all imported vehicles were also raised on March 31.
