Sri Lanka to hike electricity tariff after rupee fall

Sri Lanka
By Editor_1
0

COLOMBO – Sri Lanka’s Public Utilities Commission has received a request from the Ceylon Electricity Board (CEB) to raise tariffs, a media report quoted Chairman Janaka Ratnayake as saying.

The CEB proposal will be approved with revisions Sri Lanka’s the report quoted Ratnayake as saying.

It said the CEB was now losing Rs 13 per unit and a tariff increase has been sought to get Rs 14 billion in extra revenues.

For the lowest category the per unit rate of 5.50 had been sought from the current 2.50 and the fixed fee will go to Rs 290 from Rs 30, the report said.

The report said factories will get a 38% hike, hotels 23% and state agencies 22%.

The last tariff revision was eight years go.

Other reports said the revised proposal will go the cabinet of ministers this week.

The central bank has printed money and depreciated the currency from 130 in 2012 to around 275 by March 2022.

Though the currency has been floated, a true float has not yet taken place.

-economynext.com

 

Editor_1
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