Deputy Finance Minister Harshana Suriyaperuma says the recent hike in electricity tariffs is unlikely to severely impact the industrial sector, thanks to a favorable drop in other business-related costs, particularly bank interest rates.
Speaking at a media briefing at the Government Information Department, Suriyaperuma noted that although electricity is a key component of operational costs, it is only one part of a broader cost structure for industries.
“Interest rates are at a historically low level, and prices of several other essential business inputs have decreased. This offsetting effect helps cushion any shock from increased electricity prices,” he said.
While acknowledging the upward revision in power costs, he emphasized that the government remains committed to maintaining an industry-friendly economic environment.
