January 21, Colombo (LNW): The United Merchants Association of Colombo has called on businesses across Sri Lanka to pass on the benefits of a recent 20 per cent reduction in electricity tariffs to consumers.
The association’s president, Krishan Marambage, emphasised that the reduction should not only be seen as a relief to businesses but also as an opportunity to ease the financial burden on the general public.
He stated that with the reduced electricity tariff, businesses in all sectors should follow suit and lower the prices of goods and services.
“When the cost of electricity goes down, the cost of production and services should also decrease, which in turn will help bring down the prices of goods across the board,” Marambage explained.
The reduction in electricity rates is expected to have a far-reaching impact, particularly on small-scale businesses, the self-employed, and industries such as hospitality, manufacturing, exports, and spice production.
These sectors, which rely heavily on electricity for their day-to-day operations, stand to benefit significantly. Marambage suggested that in many cases, the prices of goods and services could be reduced by at least 10% as a direct result of the tariff cuts.
“We strongly encourage the business community to take immediate action by reducing their prices, starting today,” he urged. “This tariff revision provides a unique opportunity to lessen the financial strain on the public, and we believe it is our responsibility to ensure that these benefits are passed on to consumers.”
The association also expressed its gratitude to the government for implementing the tariff reduction at such a critical time when many sectors are in the process of recovery.
Marambage praised the government’s responsiveness to the concerns of businesses and the public, highlighting that the relief provided by the tariff reduction will contribute to reducing the overall cost of living and promoting greater economic stability.
“The government’s decision to lower electricity rates shows that it is not only listening to the needs of the people but is committed to making genuine, positive changes that will support the economic revival of the country,” he said. “We are thankful for this relief and believe it will have a lasting, positive impact on both businesses and consumers.“
H.K. Jagath Kumara, Chief Secretary of the United Merchants Association, echoed these sentiments, calling the tariff reduction a humanitarian gesture that reflects the government’s awareness of the public’s hardships.
He stressed that this move was a clear indication of a government that is committed to transparency, free from corruption, and focused on providing relief to the people.
“Everyone should view this as a time to support the government’s efforts to ease the cost of living. We are confident that the upcoming Budget will bring further relief to the public and contribute to the ongoing economic revival,” Kumara said. “This government has shown that it is taking the right steps, and we are hopeful for what lies ahead.“
Marambage also took the opportunity to contrast the current government’s approach to tariff reductions with that of the previous administration. He noted that under the previous government, the Public Utilities Commission’s recommendations for tariff reductions were largely ignored, which caused further hardship for the public.
“While businesses are quick to raise prices when costs increase, they are often reluctant to reduce prices even when costs fall,” Marambage pointed out. “This is unfair to consumers, and we urge businesses to take the necessary steps to pass on these savings.“
Finally, Marambage called on the Opposition to refrain from criticising the government during this time of positive change and instead support the government’s efforts to bring about long-term relief for the people.
“Rather than focus on negative criticism, it’s time for all parties to come together and support initiatives that will benefit the country and its people,” he concluded. “We are hopeful that the government’s ongoing efforts will lead to a brighter, more stable future for all Sri Lankans.”
