Minister of Ports and Shipping Nimal Siripala de Silva says the International Monetary Fund has requested the government to enforce an economic restructuring.
The Minister said the proposed electricity tariff hike is a condition put forth by the IMF in this regard.
Speaking at an event yesterday (3), the Minister said the government must comply with certain conditions, adding that failure to do so will result in concerns related to the IMF tranche.
He noted that failure to comply will also result in the country losing international support.
Minister de Silva said the government is not in favour of enforcing price hikes and would instead prefer to grant many concessions.
However he claimed that if concessions are granted arbitrarily international aid will not be received while debt restructuring will not take place either.
