Colombo – Former Finance Minister Ravi Karunanayake has called on the government to take immediate and decisive action to resolve the ongoing crisis at the Ceylon Electricity Board (CEB), warning that continued instability could severely impact the country’s economy and public confidence.

Addressing the media, Ravi Karunanayake stressed that prolonged financial and operational difficulties within the CEB are placing additional strain on industries, small businesses, and households already coping with high living costs. He noted that unresolved issues surrounding tariff structures, debt obligations, and management reforms require urgent policy clarity.

He further emphasized that delays in restructuring and implementing transparent financial mechanisms could undermine investor confidence and weaken Sri Lanka’s broader economic recovery efforts. According to him, the government must prioritize sustainable energy sector reforms while ensuring affordability for consumers.

The CEB has faced mounting challenges in recent years, including heavy debt burdens, rising fuel costs for thermal power generation, and disputes over tariff revisions. Energy sector analysts have repeatedly highlighted the need for structural reforms, improved governance, and diversification toward renewable energy sources.

Ravi Karunanayake urged authorities to engage stakeholders promptly and present a clear roadmap to stabilize the electricity sector, warning that continued uncertainty could lead to further financial pressure on the state.