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Govt. says electricity restructuring will give big ‘bill relief’ to more than 4 million consumers

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Kanchana Wijesekara

By Sanath Nanayakkare

Proposals in connection with reducing electricity tariffs would be submitted to the Public Utilities Commission (PUCSL) on Friday or Monday, Kanchana Wijesekara, Minister of Power and Energy said in parliament yesterday, during the debate on the proposed Ceylon Electricity Board restructuring bill.

“The policy on electricity tariffs of the country has received the approval of the Cabinet according to which electricity prices would be amended every four months,” he said.

Speaking further he said, “This is how we are planning to effect the reduction of electricity tariffs from July 1. We will ensure that the domestic category of consumers would get the highest relief. I don’t know whether the PUCSL would ratify these proposals in the same vein. However, we have proposed to do it as follows. There are 1.8 million consumers in the lowest band of usage between 0-30 units. Their current unit price is Rs. 8 and we have proposed to reduce it to Rs. 6. There are more than 2 million consumers who use between30-60 units per month. We have proposed to reduce their unit price to Rs. 11 from Rs. 20 – a reduction of Rs. 9.”

“There are 1.5 million consumers that use between 60-90 units per month and we have proposed to reduce their unit price to Rs. 18 from Rs. 30. Rs. 50 is charged per unit from customers within the band using up to 120 units. We have proposed to reduce it to Rs. 30 from Rs. 50. This is the category that accounts for most middle income earners and government servants. Thus we will be proposing to give a substantial relief to more than 4 million consumers out of the total 6.8 million consumers.”

“Religious places, schools, boutiques, health institutions, small businesses will get the same relief under this scheme. These proposals will be sent to PUCSL on Friday or Monday and then PUCSL can implement it if they wish to do so. If they think that prices can be reduced further, we will extend our cooperation to that as well,” he said.

Nandika Pathirage- media spokesman of the Senior Electrical Engineers Association said that reducing electricity prices is not magic. “It has to be done through productivity optimization and enhancing efficiency within the sector. That is why we spoke in favor of restructuring the sector in the past and we still do. We will keep the public informed of the true aspects of the impact of the restructuring. What we have is a 50-year old model, and when some people say it can’t be changed, we can’t understand what they are talking about. That is why we say restructuring should be effected.”

Dr. Pradeep Perera, Head of Electricity Restructuring Office said that dividing the CEB into separate sections would increase its efficiency and reduce their operational costs.

‘Thus the government will be able to purchase power at cost efficient prices and pass that benefit on to the consumers. The process will lead to creating better outcomes for electricity consumers,” he said.



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Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook

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The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm's engagement with its growing client base.

Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.

The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.

The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.

The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.

Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.

Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.

The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.

Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.

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Tata Group leads humanitarian education support initiative with DIMO and ChildFund

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The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.

Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.

As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.

This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.

This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.

Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”

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NovaNest Properties launches Rainbow Apartments in Ratmalana

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Samitha Waidyasekera CEO - NovaNest Properties (Pvt) Ltd

NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.

The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.

The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.

Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.

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