WEB DESK
Sri Lanka’s Minister of Power and Energy Kanchana Wijesekara said, the benefit of rupee appreciation will be provided to the public through the fuel price revision from next month. Addressing a gathering in Minuwangoda, the Minister said that reducing the fuel and electricity tariffs requires restructuring of these institutions. Fuel prices had been sharply hiked across the board last year to account for the increased import bill.
Meanwhile, the Lankan rupee has appreciated around 15 percent over the month against the US Dollar. The Central bank rates indicated a buying rate of 311 rupees for every dollar. The appreciation of the rupee is seen at a time when Sri Lanka is closing in on a bailout package from International Monetary Fund. The extended fund facility of 2.9 billion dollars will be subject to the approval of the IMF’s board which will be up for consideration on the 20th of March.