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Sri Lanka raises power tariffs amid energy crisis, IMF-linked reforms - The HinduBusinessLine
Despite measures like fuel rationing and higher pump prices, Sri Lanka continues to face challenges in maintaining adequate fuel stocks for power generation. (A representative image) | Photo Credit: Raghunathan SR / The Hindu Sri Lanka raised power tariffs for most households by 7.2% and industries by 8.7% on Monday as the island nation grapples with higher energy costs stemming from the Iran war.The new power prices are linked to a $2.9 billion program with the International Monetary Fund that Sri Lanka signed in 2023 to help recovery from a severe financial crisis.Under the program, Sri Lanka implements cost-reflective energy pricing multiple times a year to keep its state-run power monopoly, the Ceylon Electricity Board, financially stable.Hotels, linked to Sri Lanka's crucial tourism sector, will pay 9.9% more, the country's power regulator said in a statement. Poorer households will pay between 4.3% to 6.9% more under the new prices."If energy prices increase much more due to the war we will consider a fresh request to raise power prices," Prof. K.P.L. Chandralal, chairman of the Public Utilities Commission of Sri Lanka told reporters in Colombo.The CEB had initially requested for a price hike of 13.56% to cover a 15.8 billion rupee ($52.6 million) revenue shortfall caused by rising costs. The new tariffs will be implemented from the beginning of April.Sri Lanka declared every Wednesday a public holiday, introduced fuel rationing, and raised pump prices by about 35% earlier this month to manage fuel consumption.The island is in talks with Russia, India and the U.S. to procure uninterrupted supplies of fuel and is spending $600 million to purchase refined fuel for April, State-run Ceylon Petroleum Corporation Chairman Janaka Rajakaruna said over the weekend.The country is struggling to purchase 90,000 metric tons of crude oil needed to keep the island's only refinery running and produce enough stocks of furnace oil to run its thermal power plants, Rajakaruna said.Published on March 30, 2026
IMF Delegation Holds Key Talks with President on Reform Progress and ...
April 02, Colombo (LNW): A visiting team from the International Monetary Fund engaged in high-level discussions with President Anura Kumara Dissanayake on Wednesday, focusing on the country’s ongoing reform agenda and its progress under the Extended Fund Facility programme.The meeting, which took place at the Presidential Secretariat, comes at a crucial juncture as Sri Lanka prepares for upcoming programme reviews. Talks centred on recent economic developments, with particular attention given to growth trends, fiscal performance, and the strengthening of foreign reserves.IMF representatives acknowledged the strides made in stabilising the economy, noting that Sri Lanka has shown signs of recovery after a prolonged period of financial strain. They observed that improvements in revenue collection and macroeconomic management have helped place the country on a firmer footing.However, both sides recognised that challenges remain. Discussions highlighted the importance of sustaining reform momentum while safeguarding overall stability. External pressures, including volatility linked to unrest in the Middle East, were identified as potential risks—especially in relation to energy costs and fuel imports.Sri Lankan officials briefed the delegation on measures being taken to cushion the impact of reforms, particularly for vulnerable communities. They emphasised that policy decisions are being carefully calibrated to balance fiscal discipline with social protection.President Dissanayake reiterated that the government has thus far met key programme benchmarks, adding that maintaining stability must go hand in hand with minimising hardship for the public. He stressed that the reform process should remain people-focused, even as structural adjustments continue.The IMF delegation, led by Evan Papageorgiou, is expected to continue engagements with senior policymakers as part of its assessment of Sri Lanka’s economic trajectory and future commitments under the programme.
IMF reviews progress as Sri Lanka stresses economic resilience amid external pressures – The Island
In response, the government has prioritised targeted relief measures to cushion vulnerable groups from rising costs, particularly in relation to fuel and energy. “There is a clear focus on ensuring that any shocks are managed without derailing the broader reform programme,” an official explained. “Targeted support, rather than broad subsidies, remains the preferred approach.” ... “Maintaining cost-reflective pricing while protecting the most vulnerable is a delicate balance,” a senior official said. “But it is essential for the sustainability of the sector.” · The IMF team is expected to continue its assessment in the coming days, with outcomes of the fifth and sixth reviews likely to play a crucial role in determining the next phase of disbursements under the programme.
Sri Lanka's Impending Energy Crisis: Implications for Political ...
The duration of Sri Lanka's measures to manage an impending energy crisis remains uncertain. The country has already begun seeking alternatives; it recently received 38,000 metric tonnes of fuel from India and is exploring the possibility of procuring fuel from Russia following the temporary easing of certain Western sanctions.
