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SJB TU accuses CPC, LIOC and Sinopec of making unconscionable profits

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slams Opposition for not taking up issue

by Shamindra Ferdinando

Convenor of the Samagi Joint Trade Union Alliance, Ananda Palitha, yesterday (03), said that the Ceylon Petroleum Corporation (CPC) had increased prices of all products in spite of earning a monthly profit of Rs. 12 bn at present.

Palitha, a former CPC employee, said that from September to December 2022, the CPC had earned a monthly profit of Rs 10 bn. Therefore, there couldn’t have been any justifiable reason for the upward revision of fuel prices. Responding to The Island queries, Palitha pointed out that parliamentary watchdog committees and the ministerial consultative committee should look into the matter without delay. He said the Opposition had not taken up the issue, adding that, the CPC had fuel stocks sufficient for three months.

“The CPC’s September profits will soar sharply at the expense of the public,” Palitha said, adding that the abolition of the QR-based quota system was intended to boost retail sales. Palitha pointed out that Lanka IOC and Chinese enterprise Sinopec, too, had substantial fuel stocks at the time of the latest increase. The CPC had announced the revision within 24 hours after Sinopec opened its first outlet at Mattegoda, Palitha said, claiming that their profits would be massive.

The CPC set the price of petrol (92) at Rs 361 (Rs 13 increase), petrol (95) at Rs 417 (Rs 42 increase), auto diesel Rs 341 (Rs 35 increase), Super diesel Rs 359 (Rs 1 increase), kerosene Rs 231 (Rs 5 increase) at midnight Aug. 31.

 “Last month, the CPC earned Rs 12 bn profit. It’ll go up by several billions, definitely passing Rs 15 bn mark,” Palitha said, urging President Ranil Wickremesinghe, who is also the Finance Minister, to inquire into the CPC’s unfair practices which adversely affected all sectors.

Close on the heels of the CPC announcement, the government allowed a four-percent increase in bus fares. Transport costs, too, went up overnight resulting in an increase in the prices of vegetables and all other commodities.

Minister Wijesekera is on record as having said that the entry of a third player (Sinopec) will help stabilise the petroleum market, guarantee an uninterrupted supply of quality product and bring about competitive prices. Instead, the CPC had increased the petroleum, Palitha said.



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Power sector overhaul targets losses, debt and tariffs

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Independent trade unions cry foul

The government has launched a far-reaching overhaul of the electricity industry, breaking up the Ceylon Electricity Board (CEB) into six fully state-owned companies, claiming to rein in chronic losses and mounting debt.

Under the Preliminary Transfer Plan, the newly incorporated entities, namely, Electricity Generation Lanka (Pvt) Ltd (EGL), National Transmission Network Service Provider (Pvt) Ltd (NTNSP), National System Operator (Pvt) Ltd (NSO), Electricity Distribution Lanka (Pvt) Ltd (EDL), CEB Employees Funds (Pvt) Ltd (CEBEF) and Energy Ventures Lanka (Pvt) Ltd (EVL), will take over the assets, liabilities and operations of the CEB from the appointed date.

Independent trade unions have opposed the restructuring programme.

At the core of the new model is the creation of an independent National System Operator, which will handle power system planning and competitively procure electricity from Electricity Generation Lanka, Independent Power Producers and non-conventional renewable energy developers. Power will be wheeled through the national grid operated by the NTNSP and sold to distribution companies.

Explaining the economic rationale, Eng. Pubudu Niroshan Hedigallage said the separation of functions was critical to restoring cost discipline in the sector.

“Electricity planning and procurement will now be carried out independently, based on least-cost principles. That is essential if we are to control generation costs and ease the upward pressure on tariffs,” he said.

Electricity Generation Lanka, though a successor to the CEB, will compete with private and renewable energy producers for projects, a move expected to curb inefficiencies and end guaranteed returns enjoyed under earlier arrangements.

“There will be no automatic allocation of projects. EGL must compete in the market like any other generator,” Eng. Hedigallage said.

According to officials, the Preliminary Transfer Plan provides for one generation and one distribution company initially, with further unbundling planned under the Final Transfer Plan to introduce sharper financial accountability at operational level.

Economists note that the restructuring is closely watched by multilateral lenders and investors, who have repeatedly flagged the power sector as a major fiscal risk.

The government has insisted that the reforms do not amount to privatisation, stressing that all six entities remain 100 percent state-owned. However, independent trade unions are of the view that what the government has undertaken is divestiture in all but name.

By Ifham Nizam

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India, Sri Lanka speakers discuss technology-driven parliamentary innovation, including AI-enabled systems

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Indian and Sri Lankan delegations meet in New Delhi (pic courtesy IHC)

Speaker of Lok Sabha Om Birla and Sri Lankan Speaker (Dr.) Jagath Wickramaratne recently discussed the possibility of expanding parliamentary cooperation through regular exchanges, formation of friendship groups, collaboration in policy and programme design and deeper engagement in technology-driven parliamentary innovation, including AI-enabled systems, real-time multilingual translation, and capacity building through Parliamentary Research and Training Institute for Democracies (PRIDE).

The discussion took place on the sidelines of the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) held in New Delhi recently.

The following is the text of the statement issued by the Indian High Commission in Colombo: ” Speaker of the Parliament of Sri Lanka (Dr.) Jagath Wickramaratne concluded his visit to India from 14-18 January 2026, for participation in the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) held in New Delhi. This was his first visit to India after assuming office. He was accompanied by Secretary-General of Parliament Kushani Rohanadeera and Assistant Director, (Administration) of the Parliament of Sri Lanka Kanchana Ruchitha Herath. Following the 28th CSPOC from 14-16 January 2026, Speaker and his delegation visited Jaipur, Rajasthan as a part of a two-day tour for CSPOC delegates from 17-18 January 2026.

The 28th CSPOC was inaugurated by Prime Minister of India Narendra Modi on 15 January 2026 at the Central Hall of Samvidhan Sadan, Parliament House Complex, New Delhi. Welcoming parliamentary leaders from across the Commonwealth, Prime Minister Modi highlighted the success of Indian democracy in providing stability, speed, and scale. He shared India’s efforts at giving voice to the Global South and forging new paths of cooperation to co-develop innovation ecosystems. He underlined the use of Artificial Intelligence by the Parliament of India to attract youth to understand Parliament. Prime Minister expressed his confidence in the CSPOC platform for exploring ways to promote knowledge and understanding of parliamentary democracy.

The conference, chaired by Lok Sabha Speaker Om Birla, convened 44 Speakers and 15 Deputy Speakers from 41 Commonwealth countries, along with representatives of four semi-autonomous Parliaments. The theme of the conference was “Effective Delivery of Parliamentary Democracy.” During the conference, participants addressed the role of Speakers in reinforcing democratic institutions, the integration of artificial intelligence in Parliamentary functions, the influence of social media on Members, approaches to enhance public engagement with Parliament, and measures to ensure the security, health, and wellbeing of Members and Parliamentary staff.

The visit marked a significant milestone in the evolving parliamentary partnership between India and Sri Lanka. Last year, two Parliamentary Delegations visited India for Orientation Programmes in May 2025 and August 2025 respectively. These visits, in line with the intent of the India – Sri Lanka Joint Statement on ‘Fostering Partnerships for a Shared Future’, further reinforce the strong democratic ethos and enduring friendship shared between the two nations.”

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Pakistan HC celebrates academic achievements of Lankan graduates

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A section of the participants at the Pakistan HC event

The High Commissioner of Pakistan in Sri Lanka hosted a special reception on Friday (16) for Sri Lankan alumni who have recently returned from their studies in Pakistan. The event, held at the Pakistan High Commission, celebrated the academic achievements of the graduates and reinforced the deep-rooted educational ties between the two nations.

The Allama Iqbal Scholarship Programme, a flagship initiative launched in 2019, has become a vital pillar of bilateral cooperation. The High Commissioner highlighted that Pakistan offers 1,000 fully funded scholarships at graduate, postgraduate, and PhD levels, with over 500 Sri Lankan students currently pursuing their education in Pakistan’s premier universities.

“Sri Lanka and Pakistan share an enduring friendship rooted in a shared history of mutual respect and culture,” the High Commissioner remarked during the address. “Education is the key to unlocking the success of your brilliant futures and creating bonds that extend well beyond the classroom”.

Addressing the alumni as “custodians” of a noble cause, the High Commissioner urged the alumni to act as brand ambassadors by sharing their knowledge to guide deserving students toward academic opportunities in Pakistan.

He emphasised their responsibility to mentor young minds, ensuring no capable student misses the chance for a promising future. Furthermore, the alumni were encouraged to take an active role in organising frequent educational and cultural engagements to inspire and enlighten others while strengthening the ties between the two nations.

The High Commissioner emphasized that each graduate serves as a “bridge” between the two countries, playing a meaningful role in uplifting Sri Lanka while further strengthening Pakistan–Sri Lanka relations. The alumni were invited to remain closely connected with the High Commission to facilitate future initiatives that strengthen people-to-people ties.

The evening concluded with a traditional Pakistani dinner, where the alumni shared stories of their academic growth and cultural experiences in Pakistan in a spirit of friendship and togetherness.

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