No change in Water, electricity and telephone rates : Ravi

There will be no increase in rates for essential utilities including water, electricity and telephone rates under the newly amended Value Added Tax (VAT) system with this year’s budget, Finance Minister Ravi Karunanayake says.

11% VAT has been revised and categorized under 8% and 12.5 %. Water, electricity and Telephone businesses has been exempted from VAT, he said. False propaganda is being carries out stating rates will go up, he said.