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PCB postpones PSL

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The Pakistan Cricket Board (PCB) has announced the postponement of the remaining eight matches of the HBL PSL X.

A statement from Pakistan Cricket Board says : 

The last 24 hours have seen a worsening of the situation on the LOC, increased incursion of 78 drones, and the firing of surface to surface missiles from India.

The decision to postpone has been taken pursuant to advice received from the Prime Minister Mian Muhammad Shahbaz Sharif who has kept in view the reckless aggression from India that has escalated to a point where national attention and sentiments are rightly focused on the courageous efforts of the Armed Forces of Pakistan who are vociferously upholding the sovereignty of our beloved Pakistan.

The PCB and its players stand resolutely in solidarity with the families of the martyrs and our security personnel defending the nation.

The PCB recognizes the efforts and support of its partners, franchises, participating players, broadcasters, sponsors, and organizers in having ensured the smooth conduct of the tournament thus far, however; cricket while being a unifying force and a source of joy, must take a respectful pause when the country is facing such callous opposition.

We, at the PCB, also have sincere regard for the mental well-being of participating players and the sentiments of our foreign players, and we respect the concerns of their families who want to see them back home.

Yesterday, it was also announced that the IPL will also be suspended for a week.

Related News :

IPL suspended for a week over safety concerns

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Energy Ministry denies CEB Chairman’s resignation, Says he is on leave 

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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.

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Semini released on bail  

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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.

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CEB proposes 25-35% electricity tariff hike amid IMF pressure 

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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.

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