Sri Lanka, May 17 -- The Ceylon Electricity Board (CEB) has submitted a proposal to the Public Utilities Commission of Sri Lanka (PUCSL) seeking an 18.3% increase in electricity tariffs for the period spanning June to December of this year.

The CEB stated that this tariff revision is necessary due to an estimated deficit of 42.1 billion rupees for the upcoming six months.

This projection is based on an analysis of current tariffs, fuel availability and prices, interest rates, economic recovery, energy demand, and government policies.

The proposal underscores that implementing cost-reflective electricity tariffs is a crucial structural benchmark under the International Monetary Fund's (IMF) Extended Fund Facility arrangement, aimed at e...