News Today: Government’s Commitment to Providing Relief Amid IMF Conditions

The Government of Sri Lanka remains committed to providing essential relief to the public, despite the challenging conditions imposed by the International Monetary Fund (IMF), according to Science and Technology Minister Prof. Krishantha Abeysena.

Speaking at a media briefing held in Kandy yesterday, Prof. Abeysena emphasized that, while the Government has made efforts to reduce fuel prices on several occasions, balancing state revenue and expenditure is crucial. He noted that it’s important to minimize the gap between income and expenditure to maintain the country’s economic stability, while also providing relief to the people.

“The Government must always ensure that we manage our finances carefully. While we would like to reduce the prices of essential goods further, it is not practically possible given the current situation. We have to comply with the IMF conditions,” the Minister stated. He highlighted the difficulty of implementing large-scale fuel price reductions immediately, which are constrained by fiscal realities and IMF agreements.

While the current economic climate poses challenges, Prof. Abeysena shared that the Government is working toward long-term solutions, particularly by focusing on renewable energy. “We expect to sign a special agreement on renewable energy solutions during the upcoming visit of the Indian Prime Minister to Sri Lanka,” he said. “If successful, this could create more room to reduce electricity bills and fuel prices.”

The Minister concluded by reaffirming that the Government’s strategy is to shift toward a sustainable and balanced economic model, even while adhering to the conditions set by the IMF. The focus on renewable energy, alongside other reforms, is expected to help stabilize the economy and provide further relief to citizens.