Cabinet to introduce automatic electricity pricing mechanisms that ensure retail prices above cost-recovery levels and a financial position of Ceylon Electricity Board capable of covering debt service.
Introduced at R0. At R2 , not met, test date is reset. While the authorities have capacity to design an automatic fuel pricing mechanism, they have not decided on its implementation given political sensitivity. The target date has been reset to allow time for public consultation and education, followed by a sequence of reforms to put the reform process back on track. Modified to "Cabinet to approve automatic electricity pricing mechanisms (agreed with IMF staff) that ensure retail prices above cost-recovery levels and a financial position of Ceylon Electricity Board capable of covering debt service."