## CEB Restructuring: Cabinet Approves Basic Transfer Plan ⚡

The Cabinet of Ministers has officially cleared the Basic Transfer Plan, a pivotal milestone in the formal restructuring of the Ceylon Electricity Board (CEB) under the Sri Lanka Electricity (Amendment) Act, No. 36 of 2024. • Core Transition: The plan facilitates the legal transfer of assets, liabilities, functions, and roles from the state utility to newly designated successor companies. • Operational Scope: Covers the transition of the three primary pillars of the power sector: Generation, Transmission, and Distribution. • Financial Readiness: Includes specific financial arrangements to ensure successor entities can begin operations immediately and efficiently. • Reform Objective: Aimed at modernizing the energy sector, enhancing operational transparency, and improving efficiency to support national economic stability. • Status: This approval marks the conclusion of the formal reform planning phase, with physical asset and responsibility transfers now set to commence.