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Electricity Tariff Hikes Must Protect the Poor, Says IMF
COLOMBO (News 1st); Electricity tariff increases must be balanced with targeted protection for poor and vulnerable households as Sri Lanka navigates a major external shock stemming from the Middle East conflict, International Monetary Fund Mission Chief for Sri Lanka Evan Papageorgiou said, outlining discussions held with Sri Lankan authorities on managing the impact of rising prices.Responding to a question by News First journalist Zulfick Farzan on how tariff and price hikes would avoid falling disproportionately on marginalized groups, Papageorgiou acknowledged that electricity prices have risen, with the Public Utilities Commission of Sri Lanka announcing an average tariff increase of 11 percent on March 31. He also noted that a new submission seeking an additional tariff increase has since been made by the National System Operator.Papageorgiou stressed that ensuring electricity tariffs reflect the true cost of supply is essential to maintaining fiscal sustainability and preventing the electricity utility, now operating under the National System Operator or the restructured Ceylon Electricity Board, from accumulating losses that could ultimately become a burden on the government’s finances.He said cost recovery in the electricity sector helps reduce the need for costly government interventions in the future, avoids adverse feedback loops across the economy, and supports better investment planning and predictability in infrastructure, leading to improved quality of services.At the same time, he emphasized that adjustments must be accompanied by measures to protect those least able to absorb higher costs. Papageorgiou said the IMF has discussed with the authorities the importance of safeguarding vulnerable groups during this period of adjustment.He noted that the government has assessed the effects of tariff increases and committed to providing targeted and temporary support to low-income households, particularly those consuming electricity at lifeline levels.According to the IMF, this approach helps ensure that tariff hikes do not fall disproportionately on poorer households while offering short-term relief to those most affected.Explaining the technical process behind tariff determination, Papageorgiou said electricity cost recovery is assessed on a forward-looking basis and depends on multiple assumptions, including forecasts and the need to recover past losses incurred by the electricity utility. He said the March 31 tariff determination took into ac...
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Cabinet Approves Electricity Rate Reduction in Thailand - Thai Times
Electricity tariffs in Thailand are evaluated every four months, reflecting changes in variable costs such as fuel, exchange rates, and other economic indicators. The ERC has cautioned that a lower power tariff could extend the time required for EGAT to resolve its subsidy-related debts.
IMF: Financial and Regulatory Reform Agenda Contributes to Accelerating ...
The IMF report confirmed that Saudi Arabia's financial and regulatory reform agenda contributed to accelerating the Saudi economy's growth, containing inflation, and reducing the unemployment rate to its lowest levels ever. The IMF praised the ongoing economic transformation and efforts to diversify the economy under the Saudi Vision 2030.
