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
CEO of extremist Buddhist organization in Sri Lanka writes to President over threats to his life
-- [5 hours ago]
Attacked opposition MPs of Sri Lanka ponder legal action
-- [5 hours ago]
Sri Lankan President distributes title deeds to 5,500 Mahaweli families
-- [5 hours ago]
New bridge across Batticaloa lagoon connects communities in Eastern Sri Lanka
-- [6 hours ago]
Sri Lanka cricket authority has no contact with national coach
-- [7 hours ago]
Sri Lankan Muslim religious body to meet President and Chief Prelates to discuss suppression of Muslim community
-- [8 hours ago]
State doctors in Sri Lanka threaten to strike from Tuesday
-- [8 hours ago]
Sri Lanka’s main opposition to raise privilege issue in parliament and complain to the IPU
-- [8 hours ago]
Slots in Sri Lankan parliament for Matara and Kurunegala districts reduced
-- [8 hours ago]
International media watch dog condemns an attack on Tamil journalist in Northern Sri Lanka

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.