The Board of Directors of the Ceylon Electricity Board (CEB) has decided to pause plans for privatization, opting instead to focus on crucial reforms within the organization.
In a recent statement, the CEB announced that this decision was reached after a meeting between the Chairman and the Board of Directors held on the 23rd of last month.
The reform agenda emphasizes institutional changes aimed at enhancing service quality, achieving high customer satisfaction, ensuring reasonable profits for the CEB, contributing to socio-economic development, and improving employee living standards.
The Board also decided to amend the Electricity Act, maintaining government ownership of power plants and the transmission and distribution networks, which will operate under a fully government-owned independent system without privatization.
Additionally, a proposal has been made to establish an independent framework for financial and operational management of the generation, transmission, and distribution sectors. This system would function under a single-buyer model, developed in consultation with the public and other stakeholders.
The discussions also highlighted a vision to make Sri Lanka the country with the lowest electricity costs in the region within the next five years.
