Public Utilities Commission of Sri Lanka Chairman Janaka Ratnayake has made to clear that he will not sanction a power price hike. The Government needs to look into the actual financial data of the Ceylon Electricity Board and improve cash flow management before restructuring. Speaking at a special media briefing yesterday he said the proposed tariff hike will have no favorable impact on the economy; rather it would further burden the battered public and enterprises.
“Last week the Cabinet was to take a decision and fortunately it was delayed till Monday. Luckily the Cabinet of ministers did not take a decision, had they approved the proposal it would have been based on wrong facts and figures”. he said .
Ratnayake said that even if a decision is taken by the Cabinet of ministers at its meeting next Monday, the Commission will not accept it. “The Commission has powers vested with the Act to reject the Cabinet of ministers’ decision.