⚡ CA Sri Lanka Examines CEB Restructuring & New Electricity Acts

The Association of Public Finance Accountants of Sri Lanka (APFASL), the public sector wing of CA Sri Lanka, hosted a seminar analyzing the major structural and economic reforms hitting the energy sector. • The Reform Blueprint: The Electricity Act No. 36 of 2024 introduces the core concept of unbundling the Ceylon Electricity Board (CEB). The primary goals are boosting efficiency, accountability, transparency, and financial visibility. • The Engineering Correction: The subsequent Electricity (Amendment) Act of 2025 was introduced to fix structural gaps identified during initial planning. It addresses critical issues regarding ownership structures, governance arrangements, staff transfers, and operational clarity. • Role of Finance Professionals: CA Sri Lanka President Tishan Subasinghe emphasized that accounting and finance professionals are vital to national reforms, providing necessary expertise in governance, financial management, and strategic decision-making. • Implementation Outlook: Keynote speaker Prof. M. Thilakasiri noted that while the framework is a massive strategic step toward a financially viable energy sector, it is not a silver bullet. Execution will face major practical and institutional challenges, requiring a continuous, Kaizen-based improvement approach to support long-term national development.