Sri Lanka's cabinet approves new electricity tariffs

Colombo: Sri Lanka's cabinet has approved new electricity tariffs to reflect the cost of coal and power generation to take effect this month. Power Minister Kanchana Wijesekera tweeted that cabinet approval was granted to amend general policy guidelines for the electricity industry and to implement cost reflective tariffs.

Sri Lanka raised



electricity tariffs by 75% last August and a cabinet proposal to raise them by a further 25% was under consideration yesterday. Sri Lanka is struggling under its worst financial crisis in seven decade. The island nation has been taking a slew of measures to improve public finances to unlock a $2.9 billion IMF credit facility.