minting money

Commenting further MP, Hashem said that the high inflation was not due to the war either.

Government is printing money limitlessly since it came into power in 2005, he said.

All the countries in the South Asian region are facing the oil price hike and it is a common phenomenon. However, India has been able to contain inflation to a minimum; so do the other countries in the region, Hashem said.

"We had a worst war during 1980s but we never faced such a situation", he said.

The inflation which was 19 per cent has now risen to an alarming proportion of 24 per cent, Hashem said.

By the end of April this year the government printed Rs.90 billion and this figure has risen to 135 billion in September, he said.

It is evident that during the five months between April to September 2007 alone, the government has printed Rs.45 billion, said opposition parliametarian Hashem.

	is oil to blame?

Reacting to this, Trade and Consumer Affairs Minister (formerly deputy finance minister under UNP regime), Bandula Gunawardana said that the government has no option but to continue with printing money.

"If we stop printing money we will have to cut expenditure on welfare, the war and halt many development activities" said minister Gunawardana.