Business
Govt. approves major amendments to Electricity Act No. 36 of 2024

By Ifham Nizam
The government has approved major amendments to the Electricity Act No. 36 of 2024 as part of a broader effort to reform the country’s struggling power sector.
The decision follows recommendations from an expert committee appointed by the Ministry of Energy to address inefficiencies and modernize the industry.
The reforms, aimed at ensuring affordable, sustainable and reliable electricity, include structural changes, regulatory adjustments and a shift toward competitive energy markets.
Director General of the Power Sector Reforms Secretariat, Pubudu Heigallage, told The Island Financial Review that the period for written consultations on the proposed amendments to the Electricity Act has been extended until February 14, 2025.
For decades, the Ceylon Electricity Board (CEB) has operated as a vertically integrated monopoly, controlling generation, transmission, and distribution. The government now plans to separate these functions into three independent entities — a move that has been discussed for years but never fully implemented.
Under the proposed restructuring, Sri Lanka’s electricity sector will be divided into: Generation – Power plants and electricity production units will operate independently.
Transmission – A new entity will manage the transmission of electricity countrywide.
Distribution – Regional companies will be responsible for delivering electricity to consumers.
He added: “We are moving away from a state-owned monopoly towards a system where efficiency and competition drive the market.”
While the restructuring has been welcomed by some, concerns remain over its implementation:
Financial Viability – The transition will require significant investment in new infrastructure and regulatory mechanisms.
Regulatory Oversight – A strong regulatory framework is needed to ensure fair pricing and prevent monopolistic practices.
Public Confidence – Consumers and businesses remain uncertain about whether the reforms will lead to lower electricity costs and improved service.
“People want to know if this will actually make electricity more affordable,” he added. “The answer is yes, but it will take time to see the full benefits, the electrical engineer stressed.
One of the most significant proposals is the creation of a wholesale electricity market. This will allow multiple energy producers, including renewable energy providers, to sell electricity under a regulated pricing system, reducing reliance on expensive fossil fuels.
The amendments also propose dissolving the National Electricity Advisory Council (NEAC), arguing that its responsibilities overlap with existing regulatory bodies such as the Public Utilities Commission of Sri Lanka (PUCSL) and the Sri Lanka Sustainable Energy Authority (SLSEA).
Additionally, the government plans to introduce an Energy Transition Act, aligning national policies with global energy trends and climate commitments.
However, CEB trade unions have raised concerns about job security, potential privatization, and tariff hikes. Critics argue that private sector involvement could lead to higher electricity costs for consumers.
As Sri Lanka grapples with an energy crisis and mounting economic pressures, these reforms mark a turning point for the power sector. The government insists that the amendments will lead to greater efficiency, transparency, and long-term energy security.
Whether the reforms succeed in reducing electricity costs and ensuring energy stability remains to be seen. However, one thing is clear—Sri Lanka’s electricity sector is on the brink of transformation.
Meanwhile, industry experts have questioned the composition of the appointed committee, which consists primarily of key stakeholders.
“Half of them are university professors—when did they become key stakeholders?, an industry expert queried.
He also pointed out that there is no representation from the energy industry, no energy expert or legal professional, and no representatives from the Chamber of Commerce or similar organizations.
Business
VIMAN Street Cricket Cup 2025 by John Keells Properties concludes

The VIMAN Street Cricket Cup 2025, an initiative by John Keells Properties in collaboration with Sri Lanka women’s cricket legend, Chamari Athapaththu, successfully concluded on the 2nd of February 2025 at the BOI Cricket Ground in Katunayake. Designed to encourage and support women’s cricket at the grassroots level, the tournament reflected a strong commitment to identifying and nurturing talent while creating opportunities for emerging female players across Sri Lanka.
Bringing together aspiring young cricketers from diverse backgrounds, the event served as a visible platform for schoolgirls to showcase their skills, compete at a high level, and take their first steps toward a potential future in cricket.
The event drew a large crowd, comprising of students from participating schools, parents, and many more, from the local community in Gampaha. The matches were played in a tournament format, concluding with the semi-finals and finals. The competition was divided into Under 16 and Under 19 categories, with the Under 16 title claimed by Devi Balika Vidyalaya, Colombo, while Nenamal Royal College, Mawaramandiya finished as the runners-up. In the Under 19 category, Anula Vidyalaya, Nugegoda secured the championship title, with Rathnavali Balika Vidyalaya, Gampaha finishing as runners-up. The enthusiastic turnout clearly showed the growing momentum behind women’s cricket in Sri Lanka and reinforced the importance of platforms such as the VIMAN Street Cricket Cup in inspiring young women cricketers.
Business
El Teb Estate: A timeless icon of Sri Lanka’s tea legacy

Nestled in the hills of Sri Lanka’s picturesque Uva Province, El Teb Estate is a living testament to the rich history, relentless innovation and deep-rooted community values that define the island’s tea industry. With a heritage spanning over a century, El Teb Estate embodies the spirit of resilience and excellence, producing some of the finest teas sought after by tea connoisseurs all over the world.
El Teb Estate’s story begins in 1896 with Captain Hamilton Gordon of the Gordon Highlanders, a soldier turned planter who traded his military glory for the lush plantations of Uva. His first encounter with the island came as aide-de-camp to Governor Sir Arthur Gordon (later Lord Stanmore), where he was deeply enchanted by Sri Lanka’s natural beauty. Through George Steuart & Co., he was introduced to J.J. Robinson, who guided him to Heathstock, a humble cardamom estate nestled along the Madulsima road four miles from Passara. Captivated by its potential, Captain Gordon, fondly known as “El Teb Gordon”, acquired the property and renamed it “El Teb” as homage to his military past at the Battle of El Teb in Sudan (1884), where he had served with distinction.
Evolution of a Landmark Estate
Over the years, his vision transformed El Teb into a thriving estate, consolidating nearby lands like Deyanawatte and Galbokke, while keeping Heathstock as the nucleus. Some of these acquisitions came about in colourful ways—legend has it that Gordon bought Deyanawatte from a traveler at the Badulla Club for £50 without the seller even knowing where the estate was located.
Other significant additions included Devenick, an abandoned coffee estate, and portions of St. Mary’s and Kitulkellie. His knack for recognizing opportunity led to the estate’s rapid expansion, including ventures into tea, coffee, and rubber cultivation. Gordon’s innovative spirit, from introducing labor-friendly practices such as serving hot tea during morning muster, to experimenting with crop diversification, reinforced his reputation as a pioneering planter.
Business
FitsAir expands Dhaka operations with additional weekly flights

FitsAir, Sri Lanka’s leading low-cost airline, is pleased to announce the expansion of its Colombo-Dhaka service with the addition of two new weekly flights. Previously operating three times a week, the enhanced schedule will now offer five weekly flights, providing passengers with greater travel flexibility and convenience.
The additional flights will operate from February 15 to March 29, 2025, with departures on Tuesdays, Wednesdays, Thursdays, Saturdays, and Sundays. This improved frequency ensures more seamless travel for both business and leisure passengers flying between Sri Lanka and Bangladesh at the most affordable rate.
“As Sri Lanka’s first privately-owned international airline, our mission is to deliver affordable, reliable, and on-time travel experiences,” said Ammar Kassim, Executive Director of FitsAir. He further stated, “Expanding our Dhaka operations is a significant step in strengthening regional connectivity, and with increased frequency, passengers now have more travel options, flexibility, and affordability. We are already planning to raise the frequency to six flights per week during the upcoming summer season.”
FitsAir has been expanding its footprint across key regional destinations. In addition to Dhaka, the airline operates daily flights to Dubai and Malé and three weekly flights to Chennai, ensuring passengers have access to a growing network of popular travel routes.
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