News

CEBEU rejects long standing IMF proposed reforms, but willing to go along with Central Bank policies

Published

4 years ago

2022/08/14

By Ifham Nizam

The Ceylon Electricity Board Engineers’ Union (CEBEU) yesterday rejected the dictates of the International Monetary Fund and said they will only follow policies of the Central Bank of Sri Lanka (CBSL).A former CEBEU President and its Executive Member told The Sunday Island they had cordial discussions with various stakeholders and when it comes to policy matters it will have to be the Finance Ministry or CBSL.

Citing CBSL Governor Dr. Nandalal Weerasinghe, he said that the Governor often spoke about the increasing USD rates. “When the last tariff revision was done in 2013, the dollar rate was about 130 rupees and now 360,” he said, adding that institutions cannot go in that manner.”

The Union also said that the Public Utilities Commission of Sri Lanka (PUCSL) has all rights when it comes to tariff rates, however, they have no authority to poke into internal affairs and it is up to the CEB management to decide on it.PUCSL Chairman Janaka Ratnayake said that plans are underway to cut down some perks of the debt ridden CEB.

When contacted, CEB Chairman Nalinda Illangakoon told The Sunday Island that there were no such requests. However, he said that though the tariff increase is less than what they asked for, nevertheless they have to accept it.In his blog, Energy Expert Dr. Vidura Ralapanawa, said: If you think the current 75% tariff increase by CEB is too much, remember CEB asked for a 229% tariff increase at the public hearing, and CEB GM lobbied the IMF to force PUCSL to do so.”

He said that the 229% requirement is a figment of their imagination, set by a clueless tariff team (all engineers, no economists nor financial analysts). It assumed no demand reduction (happening now), no load shedding (happening now) and completely inelastic pricing (meaning that people will consume the same amounts irrespective of costs).He also pointed out that a 229% tariff increase would have wrecked the economy, driven the SMEs to the ground, created mass poverty (real and energy poverty) and left CEB with Billions of Rupees cash in hand.

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Members of Sri Lanka Cricket Transformation Committee Officially Appointed

Published

7 hours ago

2026/05/5

Priyan

The official appointment letters for the members of the newly established “Cricket Transformation Committee” (CTC) were handed over on Monday (04) by the Minister of Youth Affairs and Sports, Sunil Kumara Gamage.

The following members received their letters of appointment at the Ministry premises:

Sidath Wettimuny
Thushira Radella
Prakash Schaffter
Ms. Avanthi Colombage

The Ministry also noted that veteran cricketers Roshan Mahanama and Kumar Sangakkara, who are key members of the committee, are currently overseas. Their official appointments will be formalised immediately upon their arrival in Sri Lanka.

The Cricket Transformation Committee has been mandated to oversee the administration and drive structural reforms within Sri Lanka Cricket (SLC) in accordance with the powers vested in the Minister under the Sports Act No. 25 of 1973.

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Three prison guards arrested following the death of an inmate

Published

8 hours ago

2026/05/5

Priyan

(File pic)

Three prison guards attached to the Welikada Prison have been arrested by Borella Police following the death of an inmate on Monday (04).

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CJ urged to inquire into AKD’s remarks on May 25 court verdict

Published

12 hours ago

2026/05/5

Sahan Weerasooriya

CJ Surasena

‘Bar Association must reveal its stand’

Civil society group ‘Free Lawyers’ has requested Chief Justice Preethi Padman Surasena to probe whether political pressure was brought on a Magistrate, or a High Court Judge, in respect of an ongoing high profile case.

Speaking to The Island on behalf of ‘Free Lawyers,’ Rajith Keerthi Tennakoon said that they felt the urgent need to seek the CJ’s intervention, following the May Day declaration by President Anura Kumara Dissanayake that the verdict of a case that was heard on 30 April would be given on 25 May. Tennakoon said that addressing the NPP’s main May Day rally at Maharagama, the President asked the people to be ready to celebrate that verdict. The President couldn’t have said so if he hadn’t been aware of the impending verdict, Tennakoon said, while emphasising the responsibility on the part of the Bar Association to state its position on the issue.

‘Free Lawyers’ recently captured pubic attention following its exposure of the theft of USD 2.5 mn from the Treasury.

Responding to a query, Tennakoon said that on behalf of ‘Free Lawyers,’ Maithri Gunaratne, PC, on Monday, 4 April, wrote to both CJ Surasena and President of the Bar Association Rajeev Amarasuriya.

Alleging that President Dissanayake’s declaration caused immense harm to the independence of the judiciary and raised controversy over the judgement that would be given on 25 May, ‘Free Lawyers’ organisation also asked the CJ to inquire into whether the entire judicial process was under political pressure.

Tennakoon said that they expect the Bar Association to reveal its position on President Dissanayake’s statement. Tennakoon pointed out that during the May Day address, President Dissanayake made reference to 15 cases that were to be taken up during this month, whereas Transport, Highways and Urban Development Minister, as well as Leader of the House Bimal Rathnayake, mentioned nearly 10 names of politicians, both sitting and former lawmakers, to be summoned beginning, May.

Tennakoon said that the NPP appeared to have used May Day to counter growing accusations over the Colombo port container controversy, coal scam, Rs 13.2 bn NDB fraud and theft of USD 2.5 mn from the Treasury and USD 625,000 from the Sri Lanka Postal Service.

By Shamindra Ferdinando