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Light bill hike proposal linked to Rs. 11.5bn golden handshake
View(s):By Kapila Bandara
A ‘golden handshake’ worth Rs 11.554 billion for workers choosing voluntary early exit will be funded by raising electricity tariffs from January to March, the Ceylon Electricity Board has proposed to the regulator.
This generous payout, offered as a part of the CEB carve-out, is for 2,158 employees. Some staff could be eligible for up to Rs 5m. The minimum is Rs 900,000.
CEB has proposed to the Public Utilities Commission of Sri Lanka that voluntary retirement payments are to be funded through the first tariff revision this year. It “has been converted to a 5-year loan’’ and instalments to March are Rs 874.23 million.
This is among other proposals and factors such as costs, expenditure, and revenue in particular, supporting CEB’s position to raise electricity charges.
The state electricity monopoly proposes to increase tariffs by an overall 11.57% to bridge an estimated Rs 13.094b financial deficit from January to March.
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