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Sri Lanka's new govt reverses key economic reform for IMF bailout
Millennium Post Delhi
|New Delhi 06November2024
The new National People's Power (NPP) government in Sri Lanka on Tuesday announced its first reversal of a key element in the ongoing IMF bailout programme concerning the loss-making state-owned enterprises.
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The government reversed the Electricity Act, approved in June this year under then-president Ranil Wickremesinghe's government, introducing major reforms to the state power entity Ceylon Electricity Board (CEB).
The Marxist NPP trade unions had then agitated against the bill.
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