Sri Lanka power users see through ‘subsidy’ trick

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Apr 15, 2013 (LBO) – Despite decades of propaganda by elected rulers about ‘the government bearing the burden’ some citizens are seeing through the subsidy deception, comments by electricity consumers at a public hearing on a tariff hike showed. He said two state banks were also in trouble because of heavy lending to fund subsidies.

Now through a tariff hike, a part of the losses of state-run Ceylon Electricity Board were intended to be passed on to the people and the rest to be ‘borne by the government’.

“The people will have to bear the burden of the losses passed on to them (Maha janathawerter dener kotasa, maha janathawa bara ganna owner),” Induruwage said.

“The government is again the people. So that portion will also fall on the people again(Rajaya kiyannay apahu maha janathawa. E-kotasath arpahu wetennay maha janathawerter.)

Depreciation

The perpetuation of the 20th century welfare state invented in the West, primarily depended on continuous inflation and currency depreciation coming from unsound money.

After the US dollar was pushed off the gold standard gradually after the World War II, it became possible for the welfare state to become entrenched and generate rampant inflation and cur