The International Monetary Fund (IMF) has raised serious concerns with the government regarding the Ceylon Electricity Board’s (CEB) failure to submit its tariff revision proposals on time. Will the electricity bill rise again under the threat of the IMF? Is this the gift the self-proclaimed “Socialist” government offers its citizens on the eve of Independence Day (February 4)?
According to the IMF program, a cost-reflective pricing formula must be strictly implemented. However, the CEB has failed to operationalize this tariff revision this time around. It is reported that the CEB failed to meet multiple deadlines issued by the Public Utilities Commission of Sri Lanka (PUCSL)—specifically ignoring instructions to submit proposals by November 14, 2025, December 29, 2025, and again by January 08, 2026. This failure has drawn the sharp attention of the IMF delegation that recently visited the island.
Who Pays the Price for Delay?
Although the CEB missed the window for the requested 11.57% tariff hike this time, there is a reasonable fear among the public that the government will instantly bow down to the IMF’s “questioning.” History has shown that the burden of state inefficiency and bureaucratic delays is ultimately unloaded onto the public in the form of tax or tariff hikes. It appears this tragedy is set to repeat itself. Once the IMF command is given, the government will likely not hesitate to increase electricity bills, further oppressing the people.
The Price Formula and the Hand of the ‘Mafia’
The most critical issue here is not merely the increasing tariffs, but the factors that determine them. While the CEB speaks of “cost,” they have effectively blocked all avenues to minimize it.
- Barriers to Renewable Energy: The “Electricity Mafia” remains active, forcing a reliance on expensive diesel and coal generation while obstructing cost-effective renewable energy projects.
- Fuel and Coal Fraud: No proper steps have been taken to investigate or halt the massive corruption and irregularities tied to fuel and coal procurement deals.
Simply put, is it justifiable to recover “high costs”—which include the commissions of corrupt officials and the mafia—from the public?
The ‘Socialist’ Label vs. Reality
The current government came to power promising socialist, progressive policies. However, it seems unable to dismantle the electricity mafia that even previous “capitalist” governments could not control—or perhaps intentionally nurtured. Instead of fighting this mafia, the government is covering up these inefficiencies by burdening the people. How can this be called a “Socialist” policy?
What Freedom Do We Celebrate Tomorrow?
Tomorrow (February 4), Sri Lanka celebrates its Independence Day. However, we must ask ourselves:
- If the country’s energy policy is decided by the IMF,
- If the costs are determined by a corrupt mafia,
- And if the burden is solely carried by the helpless public,
Are we celebrating true freedom tomorrow? Or is it just another day in a country held in the grip of creditors and corruption?