Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka power authority accused of failing to pass on profits to consumers
Mon, Dec 30, 2013, 10:57 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 30, Colombo: A consumer movement in Sri Lanka says that the Ceylon Electricity Board (CEB) has failed to subsidize consumers despite recording operational profits due to the channeling of the profits to other state institutions.

Consultant of the Lanka Electricity Consumers' Association, Bandula said that the CEB has recorded an annual operational profit of Rs. 21 billion this year.

However, he has reportedly alleged that Treasury Secretary has channeled these profits to other state institutions with high expenditure.

Alleging that the funds are being channeled out of the CEB with the agreement of several senior CEB officials, Chandrasekara said profits from the CEB have been channeled even to the Economic Development Ministry.

He has pointed out that the CEB has earned Rs. 212 billion in 2013 while expenses were Rs. 190 billion and the annual working profit therefore has been recorded at Rs. 21 billion.

Nevertheless, the CEB also owes around Rs. 51 billion to the Ceylon Petroleum Corporation (CPC) for fuel.

ColomboPage - Recent 10 Stories
Sri Lanka opposition protests against government's casino legislation
-- [5 hours ago]
Sri Lankan parliamentary approval for one of the three controversial casino legislations
-- [5 hours ago]
Employees of Sri Lanka's zoological garden urge authorities to re-commence elephant dances
-- [5 hours ago]
Discovery of contaminated plastic bottles during raid raises alarm on water sold in Sri Lankan market
-- [6 hours ago]
Consumer movement urges Sri Lankan government to remove the fuel surcharge from the electricity bill
-- [6 hours ago]
Sri Lanka Attorney General's Department sets up provincial units
Sri Lanka briefs diplomatic community on measures taken to subdue renewed threat of terrorism
Sri Lankan President vows to take strict action against lawbreakers, not to permit religious discord
Parliamentary delegation of Balochistan visits Sri Lanka
Sri Lanka business chamber conducts workshop on media Strategies for corporate sector

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.