The government has provided significant relief to consumers despite advice from the International Monetary Fund (IMF) to adjust domestic fuel prices in line with rising global prices amid the conflict in the Middle East, according to Cabinet Spokesman Minister Dr. Nalinda Jayatissa.
Speaking at the weekly Cabinet media briefing today (6), Minister Jayatissa said the IMF had previously advised the government to align the costs of essential services, including electricity, water and fuel, with their actual costs.
However, he said the government had not passed the full burden of rising costs on to the public.
“The IMF has been advising us to adjust costs for services such as electricity, water and fuel. While we are attempting to adjust costs, this government has provided significant relief without placing the entire burden on the people,” Minister Jayatissa said.
He said the government had previously provided a subsidy of Rs. 100 per litre on diesel, while a Rs. 70 per litre subsidy is currently being provided.
He added that a Rs. 20 per litre subsidy had also been provided for petrol during the previous fuel price adjustment.
The Cabinet Spokesman said the government would continue to monitor fluctuations in global fuel prices and determine future measures accordingly.
He stressed that despite the IMF's recommendation for cost-based pricing, the government had been able to provide relief to consumers.
