Sri Lanka's new govt reverses key economic reform for IMF bailout package

Quick Summary:

The government reversed the Electricity Act, approved in June this year under then-president Ranil Wickremesinghe's government, introducing major reforms to the state power entity Ceylon Electricity Board (CEB).

The new National People's Power (NPP) government in Sri Lanka on Tuesday announced its first reversal of a key element in the ongoing IMF bailout programme concerning the loss-making state-owned enterprises.

A CEB statement on Monday said the entity's privatisation programme would be scrapped and vowed to amend the CEB Reforms Act of 2024.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: IndiaSri Lanka

Topics: United Nations Development Wickremesinghe's government International Monetary Fund

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 14:05:00 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 366 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23427442

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 340 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions