Sri Lanka’s CEB price hike delayed, affecting CPC and monetary policy: CB Governor

A delay in hiking electricity prices has hit the Ceylon Petroleum Corporation cashflows despite the petroleum utility operating a price formula, Central Bank Governor Nandalal Weerasinghe said.

Ceylon Petroleum Corporation has started operating a pricing formula but here is still a cashflow gap, he said.

“They do not have enough rupees to buy dollars,” Governor Weerasinghe said. “CPC is still asking rupees from Treasury. So they are asking central bank to print money.”

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