Sri Lanka on Wednesday (11) announced a 15% increase in electricity tariffs, aimed at stabilising the finances of the loss-making Ceylon Electricity Board (CEB) and meeting key conditions under the country’s ongoing bailout agreement with the International Monetary Fund (IMF).
The Public Utilities Commission of Sri Lanka (PUCSL) confirmed that the revised tariffs would take effect from Thursday (June 13), reversing a controversial price cut introduced just six months ago.
In January, the government imposed a 20% reduction in electricity rates in a move that critics warned would deepen the CEB’s financial woes and strain the national budget.
As anticipated, the cut pushed the state-run utility into further deficit, prompting urgent calls to restore cost-recovery pricing mechanisms.
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