CBSL wants govt to discourage non-essential imports; increase fuel & electricity tariffs; postpone non-urgent projects

central bank of sri lanka

As the Economic and Financial Advisor of the government, the Central Bank advises the Government to diligently consider a number of measures to overcome the challenging economic circumstances faced by the country.

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.

Related: Central Bank further tightens Monetary Policy Stance

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