Sri Lanka Electricity Board has increased the cost of electricity in Colombo by 275 percent. In August, the tariff was increased by 264 percent. With this, large users will have to pay 60 percent more than what they are currently paying. Household consumers will have to pay Rs 30 per kilowatt hour of electricity consumption. Sri Lanka, which is facing a huge financial crisis due to the loss of foreign exchange reserves, is trying to get an aid package from the International Monetary Fund. The Sri Lankan Energy Minister Kanchana Wijesekhara said that the rate hike is part of the condition set forth by the IMF. The government hopes that with the rate hike, the two and a half hour power cut currently imposed in the country can be avoided. The additional revenue will be used to purchase fuel. Read on deshabhimani.com