FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post
STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post




Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer

Latest topics

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Hope123 Today at 5:22 am

» Losing GSP+: Petty political revenge or Sri Lanka's economy?
by soileconomy Today at 5:09 am

» A penny share that might work out in near future
by madukp Today at 3:48 am

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by Hairoos Yesterday at 10:06 pm

» Daily Foreign Transactions
by Pradeep90 Yesterday at 9:06 pm

» PANASIAN POWER PLC (PAP.N0000)
by Good bad Yesterday at 8:29 pm

» Directors' Dealings 14/06/2021
by SAGA Yesterday at 6:59 pm

» TOP 10 Dividend Stocks
by lakmin Yesterday at 5:56 pm

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by Captain Yesterday at 5:37 pm

» Top Foreign Trading today - 14/06/2021
by SAGA Yesterday at 5:19 pm

» LANKA IOC PLC (LIOC.N0000)
by Pradeep90 Yesterday at 3:37 pm

» HATTON NATIONAL BANK PLC
by Eranx Yesterday at 12:24 pm

» ජිනීවා චන්දෙන් පසු හෙට මොකක් වෙයි ද ?
by samaritan Yesterday at 12:22 pm

» BUKI price comeing down
by Zahara khan Yesterday at 10:36 am

» B P P L HOLDINGS PLC (BPPL.N0000)
by arunaupendra Yesterday at 9:21 am

» Understanding inflation and share prices.
by dayandacool Yesterday at 6:53 am

» Stocks rose across Asian Markets after China & US agree to push forward trade, investment ties
by Wickyz Yesterday at 1:51 am

» Adani's entry followed by Indian CEOs discussion with Minister ANC
by Wickyz Yesterday at 1:30 am

» E B CREASY & COMPANY PLC (EBCR.N0000)
by Saman12 Yesterday at 12:08 am

» CEYLON TEA BROKERS PLC (CTBL.N0000)
by SAGA Sun Jun 13, 2021 2:19 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute


Submit Post

CHRONICLE ANALYTICS
All Share Index (ASI), S&P, Milanka Price Index (MPI), Moving Averages and all other analytical graphs and charts

Contribute

Twitter Feeds

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sparks fly between Sri Lanka's current and ex-power ministers

Sparks fly between Sri Lanka's current and ex-power ministers

Go down  Message [Page 1 of 1]

Jake Sully

Jake Sully
Manager - Equity Analytics
Manager - Equity Analytics
Sparks fly between Sri Lanka's current and ex-power ministers

Apr 24, 2013 (LBO) - A battle has sparked between Sri Lanka's current and ex-power ministers following a hike in tariffs which has already drawn fire from opposition parties.

Former power minister Champika Ranawaka denied he initiated a tariff hike after media reported that current minister Pavithra Wanniarachchi as saying she only completed the task which had already been started.
Ranawaka said he had not submitted any note to cabinet requesting a tariff hike and challenged anyone to produce documents if possible.

Ranawaka said he had responded on January 24, to a letter by the secretary of the finance ministry which suggested a hike in power tariffs after furnace oil prices were raised by the petroleum utility from 65 and 75 rupees to 90 and 100 rupees suddenly.

He said the tariff hike was too much for low users and it came at a time when rainfall was increasing while tariffs were not raised in 2011 when there was a drought.

"After not raising tariffs in 2011 during the drought and allowing the Ceylon Electricity Board to suffer losses, to raise tariffs when reservoirs are overflowing is suspicious," Ranawaka said in a media statement.


Ranawaka said there should be pricing formula for petroleum and power which was acceptable to the people.
Sri Lanka's elected rulers suspended a petroleum pricing formula in late 2003 after it was opposed by a section of them and started arbitrary setting prices.

A well designed tariff methodology also exists for power, where tariffs can be changed every six months, but it has not been observed either.

Credit taken to keep power tariffs down in 2011 eventually triggered a balance of payments crisis, which sent the rupee from 110 to 134. The rupee has since appreciated to 127.

Political meddling in energy prices have triggered balance of payments trouble on several earlier occasions.

The government has also seen revenues falling amid contraction in imports triggering higher bank borrowings. Banks have already loaned over 150 billion rupees to state energy enterprises.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum