Sri Lanka to restructure government institutions with environmental responsibilities

The government is to restructure all State institutions with environmental responsibilities, Senior Adviser to the President on National Security Sagala Ratnayake said. A task force will be responsible for formulating, implementing and monitoring environmental protection initiatives in the country. A committee will oversee the strengthening of environmental protection laws and restructuring efforts, Ratnayake said at […]

Sri Lanka’s CPC to implement daily automated price revising system from next year

Sri Lanka’s Ceylon Petroleum Corporation (CPC) is planning to implement a daily automated price revising system from next year, Minister of Power and Energy Kanchana Wijesekera said. Sri Lanka revises the price of fuel on the first of every month. State run CPC raised the price of 92 octane petrol by 20 rupees to 348 […]

SriLankan Airlines ready to recruit foreign pilots if need arises – CEO

State-owned, loss-making SriLankan Airlines will recruit foreign pilots if the need arises, its Chief Executive Officer said, as the national carrier has suffered an exodus of pilots last year following an unprecedented economic crisis. The COVID-19 pandemic, followed by an economic crisis, hit the airline hard as it was deprived of the usual near full […]

Sri Lanka’s SEC approves new listing board and rules for SOEs

Sri Lanka’s capital market regulator has approved the creation of a separate listing board and listing rules at the Colombo Stock Exchange (CSE) for state-owned enterprises’ (SOEs) expected entry into the bourse. The salient features of the rules applicable to the new Board include a stated capital of not less that 250 million rupees revenue, […]

Sri Lanka’s CPC to purchase four shipments of 92 octane petrol from Vitol Asia

Sri Lanka’s Cabinet approved a proposal for Ceylon Petroleum Corporation (CPC) to purchase 92 octane unleaded petrol from Vitol Asia for the next four months. Four shipments of petrol will be supplied between 21 September this year, and 21 January 2024. The Singapore unit of energy and commodities trader Vitol has supplied Sri Lanka’s government-run […]

Sri Lanka may appoint local advisors for small SOE divestments

Sri Lanka may appoint domestic transaction advisors for smaller divestments in the future, Director General of the State Enterprise Restructuring Unit Suresh Shah said. In the first set of enterprises to be sold, which included Sri Lanka Insurance, Sri Lanka Telecom and Litro Gas, international transaction advisors were appointed. By appointing local advisors in future […]

Sri Lanka SOE to export mineral sands to China

Sri Lanka’s state-run Lanka Mineral Sands Limited is to export 60,000 metric tonnes of ilmenite to China, a government statement said. The statement quoted Lanka Mineral Sands Chairman Udeni Dasanayake as saying that two ships will arrive in Sri Lanka to carry the mineral.  Earlier this week a shipment of 30,000 tonnes of Zircon mineral sands […]

Sri Lanka has 80 SOEs that could move out of state hands: official

Sri Lanka has about 80 state commercial entities that need not be in state hands based on several criteria, Director General of State Enterprise Restructuring Unit, Suresh Shah said. There are about 130 commercial state-owned enterprises (SOEs) in Sri Lanka out of which 15 are non-operational and have to be closed. There were another 80 […]

Sri Lanka plans Temasek style SOE holding company

Sri Lanka is planning a holding company for state enterprises in the style of Singapore’s Temasek Holdings along with a law for SOE with the hope of improving governance and cutting fiscal risks, officials said. Sri Lanka has about 80 SOEs which can move completely out of state hands and another about 20 which for […]

Only 25-pct of Sri Lanka state agencies make satisfactory disclosure under RTI: survey

About a quarter of Sri Lanka’s ministries and public authorities made at least ‘moderately satisfactory’ disclosures under the Right to Information Act with informative websites, a survey has found. In terms of content disclosure 77 percent were ‘moderately unsatisfactory and only 23 percent were moderately satisfactory, according to a survey conducted by Verite Research, a […]

Sri Lanka will not revise electricity tariffs till January: power minister

Sri Lanka will see no tariff revision on electricity in the foreseeable future as the government has decided to revise prices biannually in January and July, Power & Energy Minister Kanchana Wijesekara said. “[The state-run Ceylon Electricity Board (CEB)] has planned for an uninterrupted supply of power islandwide throughout the year with no scheduled power […]

Sri Lanka Litro keeps LPG price unchanged, praises its imports at lower price

Prices of cooking gas distributed by Sri Lanka’s state run Litro Gas will be unchanged this month despite a price hike in the global market as the company has bought stocks when the price of domestic liquefied petroleum (LP) gas was low, the company said on Friday. Litro Gas Chairman Muditha Peiris in a statement […]

China’s Sinopec commences fuel distribution in Sri Lanka

China’s Sinopec has commenced discharging its first shipment of fuel to Sri Lanka with a second shipment due to arrive on Thursday August 03, Energy Minister Kanchana Wijesekara said. The minister tweeted on Tuesday August 01 that the entry of new retail suppliers to the domestic market will ease the forex requirements for petroleum products […]

Sri Lanka’s CPC import premiums fall, saving $300mn a year: Minister

Premiums on fuel imports paid by state-run Ceylon Petroleum Corporation has declined with payments made on time under a new system, State Minister for Energy D V Chanaka has said as forex shortages eased over the past few months. Under a new system suppliers are expected to unload their fuel to CPC terminals. The CPC […]