ECONOMYNEXT – Sri Lanka Cricket has slashed the price of tickets and allowed spectators for free in the ongoing knockout stage of Lanka Premier League (LPL) after poor crowd for the games amid an unprecedented economic crisis along with 65 percent inflation.
Analysts say the economic crisis is taking the toll gradually with people struggling to meet their ends due to high food and energy prices without any pay hike.
Cricket is considered as the island nation’s main sport and millions of people back the game regardless of a 30-year war and many other key issues the country faced.
However, the ongoing LPL knockout attracted a poor crowd after the governing body Sri Lanka Cricket (SLC) announced higher ticket prices.
As a result, SLC was forced to allow spectators free of charge at C&D Lower Stand instead of charging 400 rupees per individual.
The SLC also slashed the ticket prices – from 3,500 rupees to 1,500 for Grand Stand and from 1,000 rupees to 300 for C&D Upper Stand.
“Economic crisis could be one of the reasons for the poor crowd. But this tournament comes after the recent T20 World Cup and Afghan Tour. Also many people have been more interested in World Cup football,” an official at the SLC told EconomyNext, asking not to be named.
“Usually there was a lot of interest for the last two LPL.”
Many Sri Lankans have been cutting their entertainment and unnecessary costs to ensure their daily meals amid higher transport, energy, and water costs.
Sri Lanka’s unprecedented economic crisis comes after the central bank defended the currency and propped up the rupee artificially before allowing the currency to depreciate over 60 percent in March this year after printing trillions of rupees to bridge government finances.
The island nation announced sovereign debt default on April 12 this year before the economic crisis blew up into a political crisis forcing former president Gotabaya Rajapaksa and former prime minister Namal Rajapaksa to resign in the face of wide public protests citing they were the reasons for the policy failures. (Colombo/Dec22/2022)