Canada has advised Canadians in Sri Lanka to “keep supplies of food, water and fuel".

Electricity subsidies, surcharges, and rooftop solar units: by Dr Tilak Siyambalapitiya The Public Utilities Commission of Sri Lanka (PUCSL) altered the CEB’s proposed prices and price structure, then amended its own proposal, and announced higher electricity prices, to be effective from 10 August 2022. Neither the CEB nor the PUCSL presented, to customers, the actual […]

Imports fall as financial account inflows dry up

The Ceylon Petroleum Cooperation (CPC) says there is no truth to the media reports claiming that at least 300 filling stations are compelled to shut down daily due to shortages in fuel supplies.

Market saw net foreign outflow for the 1st time in 16 straight sessions.

“We asked them to register with the police because it will make it easier to identify them."

By Jehan Perera The Paris Club has declared its satisfaction at the agreement reached between the government and IMF regarding a USD 2.9 billion loan to be given over a period of 48 months. The loan will be made under the IMF’s Extended Fund Facility, which helps countries deal with balance of payments or cash […]

Minister Kanchana Wijesekera has publicly stated that the Ceylon Petroleum Corporation (CPC) and the Ceylon Electricity Board (CEB) have employees far in excess than required for the normal functioning of these institutions. For instance, Ceylon Petroleum Storage Terminals Ltd., has 4,200 employees where only 500 are required, and the CEB has around 26,000 employees when […]

by Sanath Nanayakkare A blueprint of opportunities, challenges and the road ahead for the loss-making Ceylon Petroleum Corporation (CPC) was unveiled by JAAR Corporate Solutions at Taj Samudra Colombo last week. Furthermore, JAAR offered potential public-private partnership (PPP) models for the financially-battered CPC to make a turnaround. The participating policymakers, professionals, investors,...

An LOLC merger speculation helps gain

All groups will have one hour of power cuts between 6.00 pm to 9.00 pm

"Only selected stations will get fuel, resulting in stations not on the list not being able to sell fuel on that day."

(PTI) The IMF chief Kristalina Georgieva yesterday (4) said she is pleased the Washington-based lender and the Sri Lankan government have reached a staff-level agreement to provide about $2.9 billion to help the bankrupt country, terming the deal as an “important step forward.” The International Monetary Fund (IMF) on Thursday announced that it will provide […]

Sri Lanka’s High Commissioner in New Delhi, Milinda Moragoda, has declared that the preliminary agreement with the International Monetary Fund (IMF), under which Sri Lanka could receive $2.9 billion to tackle the ongoing economic crisis, is a “first step” in the long haul of economic recovery, but would provide the country and investors “confidence” to […]

The order was issued under powers to make them essential if such services were "likely to be impeded or interrupted"

Sri Lanka s fuel requirements for the months of September and October were reviewed on Saturday (Sep 03), Minister of Power Energy Kanchana Wijesekera says.

The government procurement system does not allow long term contracts.

Sources close to Rajapaksa say he will not involve in active politics again

IMF statement is seen as positive for the stock market.

One Monday, power cuts will be one hour in the day time and one hour in the night