CBSL makes 8 key points to Govt to overcome challenges; Including fuel price hike

COLOMBO (News 1st); The Monetary Board of the Central Bank of Sri Lanka has delivered 8 key points to the government to be considered to overcome the present economic challenges.

These measures are as follows:

a) introducing measures to discourage non-essential and non-urgent imports urgently based on the previous recommendation made by the Central Bank

b) increasing fuel prices and electricity tariffs immediately, to reflect the cost

c) incentivising foreign remittances and investments further

d) implementing energy conservation measures, while accelerating the move towards renewable energy

e) increasing government revenue through suitable tax increases on a sustained basis

f) mobilising foreign financing and non-debt forex inflows on an urgent basis

g) monetising the non-strategic and underutilised assets, and

h) postponing non-essential and non-urgent capital projects.

The above measures would ensure that a coordinated approach is adopted to overcome the challenging economic circumstances faced by the country and to prudently exit the COVID-related

policy accommodation, said the Central Bank.