Speaking at a media briefing today (17), he said that the government expects to acquire a profit of Rs. 100 billion from the VAT increase and thefts are done in a more 'classic' manner these days.

Noting that the Bond issue has incurred a loss of Rs. 145 billion, he said that this loss cannot be covered by the VAT increase.

Although the Finance minister said that the Rupee would be strengthened to 130 in a week, it has further weakened to 145, he added.

Noting that the government's poor management skills has further burdened the public with debt, Gunewardena also said that they call upon to appoint a Parliamentary Select Committee to look into the fraud pertaining to the Bond issue.