
Deputy Minister T.B. Sarath has defended the recent electricity tariff revision, insisting that the move does not constitute a rate hike but rather an adjustment to make electricity charges more realistic and affordable.
Speaking to journalists, the minister emphasized that electricity rates had previously been slashed by more than 30% under the current administration a level he now says was unsustainable. “The recent revision isn’t an increase, it’s a necessary correction,” he said, pointing out that electricity rates are still 15% lower than during the previous government’s tenure.
Minister Sarath argued that the Ceylon Electricity Board (CEB) could no longer sustain such heavy losses, and the revised rates are simply aligned with actual production costs. “The question is: who bears the loss when we slash prices unrealistically? Ultimately, it’s the people either through higher taxes or reduced services,” he noted.
He further stressed that the price recalibration was done in consultation with the Public Utilities Commission and reflects what is considered affordable for the public. “This is not a profit-driven price hike like in the past. It’s a cost-based, transparent revision,” he said.
According to the minister, the government analyzed the CEB’s current debt levels and operational costs to arrive at what he termed a “fair, maximum price” that wouldn’t overburden citizens but would still ensure the sustainability of the national grid.
“This isn’t about raising prices,” he reiterated. “It’s about responsibly managing the electricity sector in a way that the people can afford both at home and in the national budget.”