Cash-strapped Sri Lanka on Wednesday announced a 15 percent increase in the electricity price to shore up revenues for the state-run utility, in line with conditions imposed by an IMF bailout.

Sri Lanka is struggling under its worst financial crisis in seven decades and has to put its massively indebted public finances in order to unlock a $2.9 billion IMF loan that was agreed in September.

International Business News: Sri Lanka's state-run electricity monopoly will raise tariffs by a stinging 264 per cent for people consuming the least, it announced Tuesday, while h ...

Sri Lanka's cabinet on Monday approved new electricity tariffs to reflect the cost of coal and power generation to take effect this month, Power Minister Kanchana Wijesekera said, without saying ...

COLOMBO: Sri Lanka's state-run electricity monopoly will raise tariffs by a stinging 264 percent for people consuming the least, it announced Tuesday, while higher users will face a smaller ...

Sri Lanka has a state-run power monopoly, the Ceylon Electricity Board, which has incurred massive losses. The government has committed to increasing power prices to reduce losses and put public ...