No further fuel price reductions possible due to IMF conditions – Minister

Minister of Science and Technology Krishantha Abeysena says that fuel prices cannot be reduced further as the conditions imposed by the International Monetary Fund (IMF) on the country’s economy are still in effect.

Speaking to the media today (April 01), the Minister said, “We would also like to reduce fuel prices, but it is not possible at this moment as we are still dealing with the IMF conditions. We have to consider the country’s income and expenditure. The government must have a stable income. It is difficult to implement a significant reduction at once.”

He further emphasized the need to shift towards renewable energy, stating, “Now, we have to move towards renewable energy. That is why we are planning to enter into agreements with India on renewable energy when the Indian Prime Minister visits the country. That is how we will be able to reduce electricity tariffs.”

He noted that the incumbent government has reduced fuel prices on multiple previous instances since coming to power including last night’s revision.