News
Industries grumble over latest electricity tariff hike
By MELKISHIYA ANDREW
ECONOMYNEXT –Energy intensives firms say they are struggling to face the latest electricity tariff hike amid worries over losing competitiveness.
The state-run Ceylon Electricity Board (CEB) has raised the tariff by 66 percent with effect from February 15 after a dragged clash between the CEB and the power regulator, Public Utilities Commission of Sri Lanka (PUCSL).
“Already the Prices are up and we don’t actually know whether we might go for an increment or we are going to stay at the same price for now,” Ishaq Muzzammil, the Managing Director of tile manufacturer Marcopolo told EconomyNext.
“We are already planning out because if you take our category, we are into a high business market product. So, already our prices are expensive compared to the normal tiles. Increasing the prices again is not a good idea. We have to squeeze our margins.”
Analysts say manufacturers of chemicals, iron & steel, food & beverages, cement, tiles, and paper are hit by the latest move very much.Many of the manufacturers cannot pass the price to consumers as disposable income has sharply fallen with the recent tax hike. Increasing prices would discourage customers from buying the products, some manufacturers say.
Lanka Confectionery Manufacturers Association (LCMA) President S.D. Suriyakumar said the latest price hike “will definitely have a direct effect”.
“But we have not yet calculated how it is going to go around. But whatever it is, even if it is going by 10 percent that will definitely have a direct rate effect and a bearing from our operators,” Suriyakumar said.
President Ranil Wickremesinghe’s government already raised electricity prices by more than 60 percent last year to prevent the collapse of loss-making CEB.The latest price hike comes as the CEB raised fixed costs for lower and medium level electricity consumers along with the electricity units.
The tariff hike along with over 80 percent inflation has resulted in a chaotic market in the country as the authorities failed to maintain stable prices of goods and services.
“I can say that the business would collapse,” N.K Jayawardena, President Chairman of the All Ceylon Bakery Owners’ Association told EconomyNext.
“We can’t invest now. We have to borrow to pay such high electricity tariffs. We just have to look at it and see what will happen to us,” Jayawardena said.
The Power & Energy Minister Kanchana Wijesekara on Thursday said the CEB will now ensure uninterrupted power supply as the latest electricity tariff hike has been approved by the regulator the PUCSL.
News
Representatives from the Ceylon Chamber of Commerce meet PM
Representatives from the ’The Ceylon Chamber of Commerce’ met with Prime Minister Dr. Harini Amarasuriya on Wednesday [24th of June] at the Parliament premises.
During the meeting, discussions focused on the Sri Lanka Economic and Investment Summit 2026 (SLEIS 2026), which is scheduled to be held on 12 and 13 October 2026. Attention was also given to digitalization initiatives, the introduction of digital technologies in schools under new education reforms, and the transformative role of Artificial Intelligence (AI) in Sri Lanka’s education sector.
Representatives of the Chamber noted that the summit would serve as an important platform for encouraging both local and foreign investment, while also contributing to the shaping of the country’s future economic policies.
The meeting was attended by Krishan Balendra, Chairman of The Ceylon Chamber of Commerce; Vinod Hirdaramani, Deputy Vice Chairman; Shiran Fernando, Secretary General and Chief Executive Officer; Aliki Perera, Deputy Secretary General and Chief Operating Officer; and Anagi Rodrigo-Weerasekera, Chief Economist and Head of Economic Intelligence, along with several other representatives.
[Prime Minister’s Media Division]
News
Progress of Housing Project for Malayagam Community families funded by India reviewed
A discussion to review the progress of the housing project under which 4,700 houses are being constructed for the Malayagam community with Indian assistance was held this afternoon (24) at the Presidential Secretariat under the chairmanship of the Chief of Staff to the President, Prabath Chandrakeerthi.
Under this housing programme, 2,026 houses are to be provided to families identified by the National Building Research Institute (NBRI) as being at disaster risk. The remaining houses are expected to be allocated to eligible workers residing in the plantation sector.
Accordingly, the houses will be provided to Malayagam community families living on estates belonging to 22 Regional Plantation Companies, as well as estates under the State Plantations Corporation, Janawasama and Elkaduwa Plantations.
For the construction of each house, the Government of India has allocated Rs. 2.8 million, while the Government of Sri Lanka has contributed Rs. 400,000.
During the discussion, Chandrakeerthi instructed officials to ensure that the housing project is completed before the end of this year. He further directed that land identified for the construction of houses be released without delay and that the National Building Research Institute provide the necessary reports to identify suitable land for the project.
The housing project is being implemented jointly by the Ministry of Plantation and Community Infrastructure, the National Housing Development Authority, the State Engineering Corporation and the Plantation Human Development Trust.
Among those present were Additional Secretary (Development) of the Ministry of Plantation and Community Infrastructure, K. S. Wijayakeerthi; Director General (Engineering), N. D. N. Pushpakumara; Director General (Planning), W. A. K. S. Damayanthi; the Secretary General of the Planters’ Association; and officials from the National Housing Development Authority, the State Engineering Corporation, relevant institutions and plantation companies.
(PMD)
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