Energy minister says different categories of petrol and diesel to be sold at 8 percent to 26 percent lower prices.
Ranil Wickremesinghe says his government will kick off next round of talks with creditors in the third week of April.
The bankrupt nation faces a tough road ahead.
Global lender says island nation battling its worst economic crisis in seven decades will get $330m in next two days.
Loan clears the way for release of funds and kicks off a four-year programme designed to shore up the country’s economy.
The contraction is the biggest in the crisis-hit island nation’s 75 years of independence.
Public sector workers demand the government roll back high taxes imposed as a precondition to unlock $2.9bn IMF loan.
The G20 includes Sri Lanka’s top lenders and powers with influence. It must do more than just say sweet nothings.
Nation expects final IMF approval in the third or fourth week of March, President Ranil Wickremesinghe tells parliament.
Sri Lankan President Ranil Wickremesinghe is expected to address parliament on progress made in IMF negotiations.
The country is awaiting approval of a $2.9bn IMF bailout package as it endures its worst financial crisis since 1948.
Government and global community must act to prevent children from ‘becoming a lost generation’, warns Save the Children.
President Ranil Wickremesinghe is facing a backlash over steep tax hikes and spending cuts imposed to get IMF funding.
The 66 percent price increase is latest measure by island nation to clinch a $2.9bn IMF loan to tackle economic crisis.
