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| CA Sri Lanka President Tishan Subasinghe | Prof. M. Thilakasiri |
The Association of Public Finance Accountants of Sri Lanka (APFASL), the public sector wing of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), successfully conducted a highly informative seminar on “Electricity/Energy Sector Reforms in Sri Lanka via the CEB Restructuring Exercise”, focusing on the implications of the Electricity Act No. 36 of 2024 and the subsequent Electricity (Amendment) Act of 2025. The event attracted over 250 participants, including a large number of Chartered Accountants and senior public sector finance professionals.
Delivering the introductory remarks, CA Sri Lanka President Tishan Subasinghe, stated that professional accountants must remain closely engaged with the structural and economic reforms currently taking place in the country. He emphasised that accounting and finance professionals have a vital role to play in supporting national sectoral reforms through their expertise in governance, financial management, accountability, and strategic decision-making. In this regard, he highlighted the importance of understanding the statutory and institutional reforms underpinning such transformations.
The keynote was delivered by Prof. M. Thilakasiri, who comprehensively explained the strategic management perspective underpinning the ongoing restructuring of the Ceylon Electricity Board (CEB). He clarified that the 2024 Electricity Act represents the “reform blueprint”, while the 2025 Amendment Act serves as the “engineering correction layer” required to make the reform framework legally, operationally, and financially workable. He further noted that the ultimate objective of the reforms is to transform Sri Lanka’s energy sector into a financially viable, modern, transparent, and sustainable sector capable of supporting long-term national development.
Prof. Thilakasiri further elaborated that the 2024 Act introduced the core reform concept of unbundling the CEB in order to improve efficiency, accountability, transparency, and financial visibility. However, during the practical implementation, design, and institutional mapping processes, several structural gaps relating to ownership structures, governance arrangements, staff transfers, and operational clarity became apparent, thereby necessitating the Amendment Act of 2025.
The seminar also featured a vibrant and highly interactive question-and-answer session, during which participants actively engaged with the resource person on a range of operational, governance, financial, and implementation-related matters concerning the proposed electricity sector reforms. During the discussion, Prof. Thilakasiri reiterated that while the proposed restructuring framework represents an important strategic reform initiative, it would not serve as a complete solution to all longstanding issues affecting Sri Lanka’s energy sector. He further acknowledged that the implementation process itself would involve significant practical and institutional challenges, which would need to be progressively addressed through a continuous improvement and Kaizen-based approach.