The Media Division of the Ministry of Energy has dismissed media reports claiming the resignation of Ceylon Electricity Board (CEB) Chairman Dr. Tilak Siyambalapitiya, clarifying that he has only taken leave for personal overseas travel.  

A senior ministry official stated that Dr. Siyambalapitiya had formally informed President Anura Kumara Dissanayake about his temporary leave and denied any resignation.  

“There is no truth in the media reports suggesting the resignation of the CEB Chairman,” the official emphasized.  

Dr. Siyambalapitiya was appointed as CEB Chairman on September 26, 2023, following the formation of the NPP-led government. The clarification comes amid ongoing discussions on electricity tariff revisions and financial reforms in the power sector.  

The CEB has recently been under scrutiny over proposed tariff hikes and compliance with IMF-mandated cost-reflective pricing, with speculation rising over leadership changes. 

The ministry’s statement seeks to quell rumors and ensure stability in the institution’s administration.

Popular actress Semini Iddamalgoda, arrested for failing to appear in court over unpaid Employees’ Provident Fund (EPF) contributions linked to her private security company, was granted bail by Colombo Additional Magistrate Bandara Ilangasinghe.  

The Welikada Police had taken her into custody after multiple arrest warrants were issued against her. Court records revealed four warrants from the Colombo Magistrate’s Court, two from Matara, and one from Tangalle over alleged non-payment of EPF and other employee dues.  

Her defense counsel argued that Iddamalgoda, a well-known public figure, had no intention of evading court proceedings. They also stated that some of the pending payments had since been settled, leading the Labour Department to withdraw certain cases.  

Magistrate Ilangasinghe granted bail on a surety of Rs. 100,000 and ordered the recall of all outstanding warrants. The court directed the submission of relevant documents by May 28 and requested a progress report on the Colombo cases by May 19.  

The case highlights ongoing legal scrutiny over employers’ compliance with mandatory EPF contributions, even involving high-profile individuals. Further hearings will determine the resolution of the remaining charges.

The Ceylon Electricity Board (CEB) is considering a 25 to 35 percent electricity tariff increase, with the International Monetary Fund (IMF) urging Sri Lanka to implement revised rates.  

CEB sources confirmed that the proposed hikes align with a pricing formula agreed upon by the CEB and the Public Utilities Commission of Sri Lanka (PUCSL). 

The new rates will require PUCSL approval before implementation.  

Amid ongoing discussions, CEB Chairman Tilak Siyambalapitiya has resigned, reportedly due to political and regulatory interference in setting cost-reflective tariffs. Earlier this year, the PUCSL approved a 20 percent tariff reduction against the CEB’s advice, leading to renewed financial losses.  

A senior CEB official revealed that after January’s reduction, losses began rising again. 

In 2023 and 2024, tariff hikes had helped the CEB post profits of Rs. 61 billion and Rs. 141 billion, respectively, reducing accumulated losses from Rs. 473 billion to Rs. 271 billion. However, losses have climbed since February.  

The IMF had set two key conditions: cost-reflective pricing and an automatic 10 percent hike if monthly cash flow falls below Rs. 15 billion. 

The official noted that without January’s reduction, a 5 percent increase would have been needed in Q2.  

The IMF has warned Sri Lanka twice in recent weeks for breaching cost-recovery benchmarks, raising fiscal risks. 

A scheduled April tariff revision was skipped, with authorities offering unclear explanations.  

The proposed hike aims to stabilize CEB’s finances while meeting IMF demands for sustainable energy pricing.