Colombo – Cabinet spokesperson Minister Vijitha Herath has expressed concerns over the decreasing government revenue, particularly in relation to the recent adjustments in fuel prices. Addressing a press conference, Minister Herath clarified that the latest fuel price revisions were not strictly based on the pricing formula, but were the result of discussions with officials from the Petroleum Statutory Corporation.
While acknowledging the public’s demand for lower fuel prices, the minister emphasized that drastic reductions, such as cutting the price by a few hundred rupees, would not be financially feasible. He explained that lowering fuel prices too much could negatively impact the government’s fiscal position, which is already under strain.
Herath further mentioned that while the government aims to offer relief to citizens, such as reducing transport costs and bus fares, these adjustments need to be carefully managed to avoid exacerbating the decline in revenue.
He assured the public that once the economy strengthens, the government plans to provide further reductions in fuel prices, but stressed that the current focus must remain on maintaining financial stability. The Minister of Finance is expected to announce more details regarding future price reductions when conditions are more favorable.
