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PUCSL agrees to expedite tariff proposal

COLOMBO (News 1st) – The Public Utilities Commission of Sri Lanka on Tuesday (24) announced that is has reached a unanimous decision to expedite Ceylon Electricity Board tariff proposal in accordance with the Electricity act 2009.In addition, the PUCSL has reached a decision to seek legal opinion on the implementation of the cabinet request on interim tariff with retrospective effect, said its Chairman Janaka Ratnayake.On the 9th of January 2023, the Cabinet of Ministers considered the proposal submitted by the President in his capacity as the Minister of Finance, Economic Stability and National Policies, and the Minister of Power and Energy regarding the revision of electricity tariffs.

 It was further observed by the Cabinet that the Treasury is not able to provide the necessary funds for the Ceylon Electricity Board within the existing financial space and therefore there is no other option but to revise the existing electricity tariffs to ensure a continuous electricity supply in the country while minimizing the impact on electricity consumers as much as possible. Accordingly, approval was given to proceed as follows:– The Public Utilities Commission of Sri Lanka will further study the proposed revision of electricity charges submitted by the Electricity Board and if any revision is required, to  submit the same on or before 15.02.2023. – Until then, the Ceylon Electricity Board and the Public Utilities Commission of Sri Lanka will jointly take necessary measures to implement the electricity tariff revision proposed by the Ceylon Electricity Board with effect from 01.01.2023 as an interim measure in accordance with the amendments to the Public Policy Guidelines currently in force regarding the Power Industry. – If the

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World Bank impose strict regulations for fertilizer imports – Report - - Sri Lanka
World Bank impose strict regulations for fertilizer imports – Report
COLOMBO (News 1st); According to a report published by Sunday Times, a senior Agriculture Ministry official says Sri Lanka opened international competitive biddings for fertiliser imports with strict regulations imposed by the World Bank to ensure a fraud-and-corruption-free process.The report says, in terms of the World Bank guidelines, contractors and sub-contractors are required to permit the World Bank team to inspect records, accounts and other documents relating to the procurement process and audited by auditors appointed by the WB.The report adds that tenders have been called for the procurement of 125,000 Metric Tonnes (MT) of urea for the upcoming Maha season utilising funds allocated under the USD 350 million emergency financing facility offered by the World Bank.The Sunday Times report says, accordingly, USD 110 million from the total World Bank-funded Emergency Crisis Response Programme is to be allocated for the procurement which is to be delivered in five consignment slots ahead of the Maha season and is scheduled to begin on September 15.The report says the bidding is to be conducted through the International Competitive Bidding Procedure (ICB) under guidelines compiled with National Procurement guidelines along with specific directives from the World Bank to ensure a fraud-and-corruption-free process.Source: Sunday Times