News
CEB pushing for further increase in electricity tariffs
by Ifham Nizam
A tug-o-war between the Ceylon Electricity Board (CEB) and the Public Utilities Commission (PUCSL) continues, with the former calling for another electricity tariff hike. A senior management official of the CEB told The Island that despite the price hike CEB would lose Rs. 12.00 per unit. “Our income is Rs. 264 million and expenses stand at Rs. 600 million. We need Rs. 800 million to cover up but we get only Rs. 400 million,” he added.Structural reforms would certainly fatten the electricity bills unless authorities find a method to cover up the difference or consumers will have to be in the dark, he said.
Others however insist that authorities will first have to make CEB more efficient by shedding its dead weight and eliminating corruption as the public utility is too unwieldy with a huge unproductive staff; much of its work is subcontracted to outside companies.Current rains have helped increase hydro power generation. The Castlereagh, Mousakelle, Victoria and Kotmale reservoirs are almost brimful.
Power and Energy Minister Kanchana Wijesekera last week said: “Even though a hike is a very difficult thing for the people, it must be done at this time
“The CEB needs to pay Rs. 76.8 billion to private power plants and Rs. 29 billion for renewables including rooftop solar. Ceypetco has to pay 31 billion rupees.”
The minister said that even though the CEB had expected revenue of 869 billion rupees from tariff hikes, the PUCSL had only given approval for Rs. 500 billion.
“A tariff increase is a must, and that has been done with measures being adopted to protect the low-consumption groups,” he said.
The majority of Sri Lanka’s electricity consumers use fewer than 30 units a month, and the current tariff rates offer that group a 75 percent subsidy on the rate per unit.
News
“Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” by Mahinda Siriwardana presented to the President
The book “Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” ,authored by Secretary to the Ministry of Finance, Mr. Mahinda Siriwardana, was officially launched this morning (08) at the Galle Face Hotel, Colombo, with the participation of President Anura Kumara Disanayake.
The first copy of the publication was formally presented to President Disanayake by Mr. Siriwardana during the event.
It has been reported that former State Minister Sivanesathurai Chandrakanthan alias ‘Pilleyan’ has been arrested by the Criminal Investigation Department (CID).
A meeting between President Anura Kumara Disanayake and senior officials of SriLankan Airlines was held this afternoon (April 8) at the Presidential Secretariat.
The discussions mainly focused on proposals to transform SriLankan Airlines into a more profitable state-owned enterprise. Special attention was also given to possible short-term and long-term solutions for the airline’s debt management.
The talks further explored new investment opportunities for the airline. The President instructed the officials to take all necessary steps to transform SriLankan Airlines into a profit-making entity.
Although the airline has recorded operational profits, due to past mismanagement and poor decision-making, it remains one of the leading loss-making state enterprises. The current government has decided to reverse the previous administration’s decision to privatize the airline. Instead, it plans to continue operating it as the national carrier while introducing a new management structure to ensure its profitability moving forward.
Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, President’s Senior Advisor Duminda Hulangamuwa, Chairman of SriLankan Airlines Sarath Ganegoda along with several senior officials of SriLankan Airlines, were present at the meeting.
“Sri Lanka’s Economic Revival – Reflection on the Journey from Crisis to Recovery” by Mahinda Siriwardana presented to the President
Former state minister arrested by CID
President meets with senior officials of SriLankan Airlines
-
Business2 days agoColombo Coffee wins coveted management awards
-
Features3 days agoStarlink in the Global South
-
Business4 days agoDaraz Sri Lanka ushers in the New Year with 4.4 Avurudu Wasi Pro Max – Sri Lanka’s biggest online Avurudu sale
-
Business5 days agoStrengthening SDG integration into provincial planning and development process
-
Business4 days agoNew SL Sovereign Bonds win foreign investor confidence
-
Sports6 days agoTo play or not to play is Richmond’s decision
-
Features3 days agoModi’s Sri Lanka Sojourn
-
Sports5 days agoNew Zealand under 85kg rugby team set for historic tour of Sri Lanka