The Ceylon Electricity Board (CEB) has decided not to issue bonuses to its employees this year, despite making a substantial profit, according to the Board of Directors.

The decision comes despite the demand of the Ceylon Electricity Workers’ Union, which had urged the CEB to grant bonuses before tomorrow (10), citing the board’s profitable position.

Dhanushka Parakramasinghe, the media spokesperson for the CEB, confirmed that the Board of Directors had made a final decision to forgo the bonuses. While the CEB reported significant profits this year, the board explained that the funds have been allocated to repay loans, including Rs 112 billion for debts to institutions such as the Ceylon Petroleum Corporation (CPC). Furthermore, Rs 41 billion from the profit was used to reduce electricity tariffs, benefiting consumers.

Recently, General Secretary Ranjan Jayalal emphasized that although the employees had not received bonuses for the past two years under previous governments, they expected a bonus now that a government representing their union was in power.

Despite the union’s request, Parakramasinghe reiterated that the CEB’s current financial commitments made it impossible to distribute a bonus to employees at this time.