The Central Bank of Sri Lanka (CBSL) has requested the Government for a sharp increase in fuel and electricity prices, Governor of the bank Ajith Nivard Cabraal said.
In an interview with the CNBC, Cabraal said the CBSL has requested that the Government make a sharp increase in such prices, so there will be a “natural reduction” in demand.
He pointed out that Sri Lanka currently provides fuel for the lowest price to consumers and that is not a sustainable situation in the current context.
Cabraal said a request has also been made from the Government to increase duties for the importation of non-essential items.
He said the request has been made in order to make a reduction in the overall imports demand. (NewsWire)
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