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Business Sentiment – Light at the end of the tunnel

Biz confidence rebounds following election and with an eye on the post-COVID era
While the plaudits for Sri Lanka’s COVID-19 response continued to flow in and the successful conclusion of a largely peaceful election was duly recognised, the country faced yet another challenge in the form of a nationwide blackout in mid-August.

A technical problem at the Kerawalapitiya oil-fired thermal power station plunged the island into chaos for over eight hours on 17 August, followed by power outages for up to four days announced by the state-owned Ceylon Electricity Board (CEB) to carry out the necessary repair work.

This also meant a return to a state of uncertainty and a spanner in the works of business continuity, which was only beginning to return to a state of normalcy – so undoubtedly, a long-term resolution is the need of the hour.