Sri Lanka Restructures Electricity Giant In Major Reform Move

COLOMBO, March 9 (Bernama-Xinhua) -- Sri Lanka has begun restructuring the Ceylon Electricity Board (CEB), its largest electricity company, into six successor companies with effect from Monday, reported Xinhua.

Under the new framework, the six new companies established will respectively take up the duties of electricity generation, transmission, distribution, and system operations, replacing the existing centralised structure of the CEB.

The implementation of the law from Monday initiates the transfer of assets, responsibilities, and operational functions from the CEB to the successor entities. Several preparatory steps were completed ahead of the restructuring.

According to Dhammika Wimalaratne, media spokesman of the CEB, the division of the CEB into multiple state-owned companies is intended to improve transparency, accountability and efficiency in the management of Sri Lanka's electricity sector. 

--BERNAMA-XINHUA