Prime Minister Mahinda Rajapaksa has assumed duties as the Finance and Economic Affairs Minister, a short while ago.

Addressing the event, he stated that the fuel price formula introduced by the past government has to be changed.

Mahinda Rajapaksa stated that he worked in this same ministry contentedly for long in the past. He says that, when the tsunami hit the country, they could resolve economic woes of the country within a short amount of time despite many issues.

Rajapaksa further said that he acted with proper financial management when he was the finance minister during the war. Although the global oil prices rose, he was able to keep the economy stable during his term in the ministry and was also systematically reduced the budget deficiency, according to him.

Stating that democracy in the country was disappearing due to postponement of elections, Rajapaksa stated that by now the world has been shown that the country is moving towards a dictatorship.

The finance ministry today faces many challenges; taxing system should be set up and a certainty on the economy should be established, he said.

Rural economy has severely degraded today and the urban environment has also declined, he added. Local industries have declined and even incense sticks are imported today, pointed out Rajapaksa.

Rajapaksa added that he worked as the finance minister while being President and now again as the Prime Minister. He hopes to protect the country and build the economy for the benefit of the future generations of the country, further said Mahinda Rajapaksa.