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Saturday March 2nd, 2024

Sri Lanka schedules 7.5 hour power cuts on March 29

ECONOMYNEXT –  Sri Lanka utility provider, Ceylon Electricity Board (CEB) has imposed up to 7.5 hour power cut in the country in two blocks for Tuesday (29).

Accordingly, areas PQRSTUVW will have 7 hour and 15 minute power cuts in two phases – 5 hour power cut from 8.30am to 6.30pm and 2 hours and 15 minutes from 6.30pm to 11.00pm.

Areas ABCDEFGHIJKL will have 7.5 hour power cuts in two phases – 5 hours from 8.00am to 6.00pm and 2 hours and 30 minutes from 6.00pm to 11.00pm.

To download the schedule 29-03-2022-Power-Interruption-Schedule-full

Though the government has said the duration of the power cuts will be reduced gradually, the power cut has been extended mainly due to lack of fuel amid severe shortage of US dollars.

The lack of fuel also has resulted in large queues for diesel and petrol despite record price hikes. (Colombo/ March 28/2022)

Comments (9)

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  1. Larry Neal says:

    We have very close Sri Lankan friends in Colombo. My time in Sri Lanka was wonderful. You have our love and sympathies. We will pray for your finances to be supplied and your chain of distribution to open up.

  2. Sanjeewa Gangodatenne says:

    Please adjust time in W we have few factories.we supply export markets and cannot do our production fm 0830 0130 more 100 employees

  3. dave says:

    kalakanni

  4. Pathmasiri Perera says:

    How do I know my area?

  5. J. Gunasinghe says:

    If the situation is so bad, how come Colombo, Mirihana and so many other areas don’t have power cuts. Are these areas in a different country? Let everyone suffer equally.

  6. Priyadarshani says:

    We are at Meegahawattha, Delgoda which group we belong. Today power cut from 1:30pm up to now 8:06 pm

  7. Thigaan says:

    What is happening this times are not maintenance by the CEB properly. Everyday different time power cut. How we are can work?
    As Srilankan citizen how we are going to live?
    It 11.15 still no power at our place. What the hell is happening?

  8. Chana says:

    What the he’ll now almost 22mnts past 11pm. Still no power. We are expecting it at 11 a clock. What the fu***g this system our children must study. They have exams.

  9. Lujith says:

    Now it’s 11:18 still no electricity this country not maintain properly because of the president

View all comments (9)

Comments (9)

Cancel reply

Your email address will not be published. Required fields are marked *

  1. Larry Neal says:

    We have very close Sri Lankan friends in Colombo. My time in Sri Lanka was wonderful. You have our love and sympathies. We will pray for your finances to be supplied and your chain of distribution to open up.

  2. Sanjeewa Gangodatenne says:

    Please adjust time in W we have few factories.we supply export markets and cannot do our production fm 0830 0130 more 100 employees

  3. dave says:

    kalakanni

  4. Pathmasiri Perera says:

    How do I know my area?

  5. J. Gunasinghe says:

    If the situation is so bad, how come Colombo, Mirihana and so many other areas don’t have power cuts. Are these areas in a different country? Let everyone suffer equally.

  6. Priyadarshani says:

    We are at Meegahawattha, Delgoda which group we belong. Today power cut from 1:30pm up to now 8:06 pm

  7. Thigaan says:

    What is happening this times are not maintenance by the CEB properly. Everyday different time power cut. How we are can work?
    As Srilankan citizen how we are going to live?
    It 11.15 still no power at our place. What the hell is happening?

  8. Chana says:

    What the he’ll now almost 22mnts past 11pm. Still no power. We are expecting it at 11 a clock. What the fu***g this system our children must study. They have exams.

  9. Lujith says:

    Now it’s 11:18 still no electricity this country not maintain properly because of the president

Sri Lanka eyes SOE law by May 2024 for better governance

ECONOMYNEXT – Sri Lanka is planning to pass a Public Commercial Business (PCB) Act improve governance of state-owned enterprise by May 2024 as part of an anti-corruption efforts following an International Monetary Fund assessment.

Sri Lanka’s state enterprises have been used by politicians to give ‘jobs of the boys’, appropriate vehicles for personal use, fill board of directors and key positions with henchmen and relatives, according to critics.

Meanwhile macro-economists working for the state also used them to give off-budget subsides or made energy utilities in particular borrow through supplier’s credits and state banks after forex shortages are triggered through inflationary rate cuts.

The government has taken billons of dollars of loans given to Ceylon Petroleum Corporation from state banks.

There have also been high profile procurement scandals connected to SOEs.

An SOE Reform Policy was approved by Sri Lanka’s cabinet of ministers in May 2023.

The Public Commercial Business (PCB) Act has now been drafted.

A holding company to own the SOEs will be incorporated and an Advisory Committee and Board of Directors will be appointed after the PCB law is approved, the statement said. (Colombo/Mar01/2024)

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Sri Lanka rupee closes at 308.80/90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 308.80/90 to the US dollar Friday, from 309.50/70 on Thursday, dealers said.

Bond yields were broadly steady.

A bond maturing on 01.02.2026 closed at 10.65/75 percent up from 10.50/70 percent.

A bond maturing on 15.09.2027 closed at 11.90/12.05 percent from 11.90/12.10 percent.

A bond maturing on 01.07.2028 closed at 12.15/35 percent down from 12.20/25 percent.

A bond maturing on 15.07.2029 closed at 12.25/40 percent up from 12.30/45 percent.

A bond maturing on 15.05.2030 closed at 12.30/45 percent down from 12.35/50 percent.

A bond maturing on 01.07.2032 closed at 12.50/13.00 percent from 12.55/13.00 percent. (Colombo/Mar1/2024)

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Sri Lanka stocks close up 0.37-pct, Expo to de-list

ECONOMYNEXT – The Colombo Stock Exchange closed up 0.37 percent on Friday, and SG Holdings, the parent company of Expolanka Holdings Plc, said it was taking the company private.

Expolanka is the largest listed company on the Colombo Stock Exchange.

“Expolanka Holdings PLC has, at the Board Meeting held on 1st March 2024, considered a request from its principal shareholder and resolved to initiate the de-listing of the Company’s shares from the Official List of the Colombo Stock Exchange subject to obtaining necessary shareholder approval and regulatory approvals,” the company said in a stock exchange filing.

As per arrangements with SG Holdings Global Pte Ltd, the Company’s majority shareholder, it will purchase its shares from shareholders who may wish to divest their shareholding in the Company at a purchase price of Rs 185.00 per share. The share closed up at 150.50.

The broader All Share Index closed up 0.37 percent, or 39.47 points, at 10,691; while the S&P SL20 Index closed down 0.64 percent, or 19.59 points, at 3,037.

Turnover stayed above the 1 billion mark for the sixth consecutive day, registering 1.4 billion.

Crossings in Melstarcorp Plc (135mn) up at 89.50, Hatton National Bank Plc (64mn) up at 158.00, Hemas Holdings Plc (53mn) up at 75.00 and Central Finance Company Plc (26mn) up at 103.50, added significantly to the day’s turnover.

“The upward trend is continuing, with more retail buying also coming in, the number of trades was more than 10,000 today,” a market participant said. “Investors are looking for undervalued stocks and buying in quantities.” (Colombo/Mar1/2024).

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