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Cabinet approves electricity tariff hikes under 2 steps!

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Although the electricity tariff has been increased in the past, it is not sufficient to cover the loss of the electricity board and thus, the request to increase the electricity bill has received cabinet approval.

The aforesaid was disclosed at the Sub Committee on Identifying the Short & Medium-Term Programmes related to Economic Stabilization of the National Council held yesterday (29).

Accordingly, the Cabinet has approved to increase the electricity tariffs under two steps in January and June 2023 and accordingly the relevant measures are to be taken for the purpose of obtaining approval of the Public Utility Commission, said Mr. Rohan Seneviratne, Additional General Manager of the Electricity Board.

This was disclosed at the Sub Committee on Identifying the Short & Medium-Term Programmes related to Economic Stabilization of the National Council held under the Chairmanship of Patali Champika Ranawaka, Member of Parliament.

The representatives of the government and private institutions related to the power sector were called before the Committee to obtain proposals for the purpose of solving the issues in the power sector.

In order to cover the current loss, the electricity bill should increase by about 70%, the electricity board representatives said.

The chairman of the committee also pointed out the dangers such as the collapse of businesses even if the electricity tariffs are increased with the aim of covering the loss of the electricity board.

It was also disclosed that the Electricity Board currently owes nearly 650 billion rupees as loans to various parties including banks and electricity suppliers. Electricity Board representative stated that out of the amount to be paid, nearly 35 billion rupees are to be paid to the organizations that supplied renewable energy and 75 billion rupees are to be paid for Thermal power suppliers. Thus, it was said that it is expected to least make part payment to the suppliers from the 50-billion-rupee loan expected to receive.

The representatives of the renewable energy sector including solar energy and the representatives of other private institutions related to the power sector briefed the committee about their concerns and the reforms that should take place in the power sector.

The State Minister for Power and Energy – Indika Anuruddha was also present at the Committee meeting held. The state minister, who joined the discussion with the representatives of the power sector, said that he would work to provide solutions to these problems.

State Minister – Sivanesathurai Santhirakanthan as well as Members of Parliament Mano Ganesan and M. Rameshwaran were present at this Committee meeting held.

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Heavy rain and winds expected in several areas today

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Showers or thundershowers will occur at times in Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara districts today (May 30), the Department of Meteorology says.

Heavy rains above 100 mm are likely at some places in the Western and Sabaragamuwa provinces and in Nuwara-Eliya, Kandy, Galle and Matara districts.

Several spells of showers may occur in North-central province and in Mannar and Hambantota districts.

Strong winds of about (50-60) kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Hambantota and Trincomalee districts.

Fairly strong winds of about (30-40) kmph can be expected at times elsewhere on the island.

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Chinese Minister of Commerce meets President AKD

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The Minister of Commerce of the People’s Republic of China, Mr. Wang Wentao, who is currently on an official visit to Sri Lanka, met with President Anura Kumara Disanayake this afternoon (29) at the Presidential Secretariat for discussions. 

Minister Wang noted that, considering the current political and economic stability in Sri Lanka, along with the clear policy direction being pursued by President Disanayake’s administration, there has been a notable rise in interest from Chinese investors looking to invest in the country.

He further stated that this visit undertaken with the participation of over 100 Chinese investors demonstrates a solid dedication to enhancing economic collaboration between the two nations.

The discussion also focused on the importance of working together to achieve mutually beneficial trade and economic goals during this challenging period. In light of global economic instability, the Chinese Minister of Commerce reiterated China’s commitment to providing the necessary support to Sri Lanka.

One of the key objectives of Minister Wang Wentao’s visit is to follow up on the agreements reached during President Anura Kumara Disanayake’s recent visit to China. The two sides also discussed the timely completion of on-going development projects in Sri Lanka with Chinese government support, as well as the prompt implementation of proposed new initiatives.

The Chinese delegation included Mr. Qi Zhenhong – Ambassador of China to Sri Lanka, Mr. Wang Liping – Director General of the Department of Asian Affairs and Ms. Shu Jueting – Director General of the Department of Foreign Affairs.

Representing Sri Lanka, Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe Secretary to the President Dr. Nandika Sanath Kumanayake and Senior Additional Secretary to the President Roshan Gamage, along with other officials, were also present at the occasion.

(President’s Media Division)

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Polish FM meets President AKD

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Minister of Foreign Affairs of the Republic of Poland, in the context of Poland’s Presidency of the Council of the European Union Radosław Sikorski, currently on an official visit to Sri Lanka, met with President Anura Kumara Disanayake this afternoon (29) at the Presidential Secretariat for discussions.

The discussions focused extensively on strengthening cooperation between Sri Lanka and the European Union. President Disanayake emphasized the importance of continued EU support in overcoming future global economic challenges facing Sri Lanka.

President Disanayake stated that, in the face of challenges arising from the newly introduced tariff regime by the United States and the fiscal constraints imposed by the International Monetary Fund, Sri Lanka hopes to engage in broader cooperation with the European Union to address emerging economic pressures.

The President expressed his appreciation for the positive response demonstrated by the European Union regarding the continued maintenance of the GSP+ concession granted to Sri Lanka.

Meanwhile Polish Foreign Minister Radosław Sikorski stated that his visit reflects the special attention both the European Union and Poland place on Sri Lanka.

The discussion also focused on further strengthening the historic ties between Sri Lanka and Poland, with both sides expressing interest in enhancing bilateral collaboration.

Polish Foreign Minister Radosław Sikorski recalled the 50 years of economic and trade and 30 years of development cooperation between Sri Lanka and Poland. He expressed his government’s intention to work closely with the new administration in Sri Lanka to further advance these relations.

The delegation including Ambassador of the European Union to Sri Lanka Carmen Moreno, Secretary to the President Dr. Nandika Sanath Kumanayake, Senior Additional Secretary to the President Roshan Gamage were among the other officials. 

(President’s Media Division)

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