Thursday April 8, 2021
ECONOMYNEXT – Sri Lanka’s Lanka Electrical Firm, one among two state-run energy distributors pays curiosity on buyer deposits from, underneath an initiative from the Public Utilities Fee although the sector as a complete is operating losses.
“Cost of curiosity on electrical energy client deposits declared right now is a profit offered to the buyer underneath Part 28 of the Sri Lanka Electrical energy Act,” PUCSL Chairman Janaka Ratnayake mentioned.
“Cooperation between the assorted events had been required to implement such a profit. Within the latest previous, steps had been taken to implement this rate of interest scheme
“The implementation of the choice to pay curiosity advantages was delayed resulting from varied points equivalent to figuring out the curiosity to be paid and resolving points.
“However right now now we have been capable of resolve all these issues and The Public Utilities Fee of Sri Lanka has developed a strategy for figuring out rates of interest in an accepted and clear method.
“The fee not too long ago determined that the rate of interest for this yr can be 8.68 per cent.”
Lanka Electrical energy (Pvt) Ltd, pays 42 million rupees a yr to clients by the scheme he mentioned. (Colombo/Apr08/2021)