Deputy Minister of Economic Development Anil Jayantha Fernando says there is no possibility of increasing electricity charges in the near future, responding to uncertainty that had arisen following a recent statement by the International Monetary Fund (IMF).
Recently, IMF Sri lanka Mission Chief Evan Papageorgiou announced that Sri Lanka should restore cost-recovery electricity pricing as soon as possible to minimise fiscal risk and is essential to complete the fourth review of the IMF’s External Fund Facility (EFF) programme.
Speaking during a televised interview, Deputy Minister Anil Jayantha Fernando clarified that electricity charges will only increase if there is an increase in generation costs.
“The IMF statement does not mean we have not collected generation costs. It means that generation costs were not collected through proper means in the last quarter. We have collected information in this regard,” he said.
The Deputy Minister said that, based on this information, there was no way to increase electricity charges for the next quarter.
“We cannot say what will happen thereafter, when the generation costs change. But at present, charges are determined based on generation costs. As such, there will be no change in electricity charges in the near future,” he added. (Newswire)