Sri Lanka's cabinet has approved a key electricity reforms bill that will help foster more private investment in power, the country's cabinet spokesperson said on Tuesday.

"This will result in unbundling the state-run power monopoly, create space for more private investment in power generation, transmission and distribution," Cabinet spokesperson and Transport Minister Bandula Gunawardana said. (Reporting by Uditha Jayasinghe, writing by Shilpa Jamkhandikar Editing by Shri Navaratnam)