The International Monetary Fund (IMF) delegation, currently on their second review visit, engaged in discussions regarding the progress of the Ceylon Electricity Board and the Ceylon Petroleum Corporation. They assessed the recent tariff reduction on the balance sheet and the current financial position of these two state-owned institutions.
The Ceylon Electricity Board reduced its tariffs by an average of 22% last month, as it recorded a profit of 65 billion rupees in 2023 due to increased hydro power generation.
However, according to Verite Research, Sri Lanka has failed to meet 33% of IMF commitments as of February. These commitments include issues related to transparency, governance, and legislative improvements. Sri Lanka has only fulfilled 31% of the commitments, while the remaining 36% could not be verified.
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