ECONOMYNEXT – Sri Lanka is seeking the support of international development agencies to re-structure state-run Ceylon Electricity Board, Minister of Energy Kanchana Wijesekara said.
“We requested technical & financial assistance from the development agencies to obtain services of international & domestic experts in energy, finance & legal to fulfill the objectives of the unbundling process, energy & financial audits, Human Resources management, PPP models, legal drafting, research work, integrating renewable energy, carbon credits, communication platform & other work related to reforms & integrating renewable energy,” Wijesekera in a twitter message said.
“A reforms office will be opened at the Ministry of Power & Energy to see through the transformation.”
1) A meeting was held yesterday on Restructuring of CEB with the assistance of Development agencies. Heads & representatives of ADB, World Bank, JICA, USAID, IFC, UNDP, ERD, NPD & members of the reforms committee participated. pic.twitter.com/Z9fz6JTMey
— Kanchana Wijesekera (@kanchana_wij) February 24, 2023
Heads & representatives of Asian Development Bank, World Bank, Japan International Cooperation Agency, The United States Agency for International Development, International Finance Corporation, United Nations Development Programme, Department of External Resources, Department of National Planning, General Treasury & members of the reforms committee participated in the meeting held on Thursday.
The CEB consist of around 26,000 workers when the enterprise needs only around 50 percent of it, Minister Wijesekera has said earlier.
The cabinet approved the proposal to restructure CEB in November 2022 and under the plan the CEB will be split into eight separate companies and set up a new power regulator.
A voluntary retirement plan also will be offered.
The government has said it wants to reform or privatize state enterprises after the country ended up in sovereign default after several years of money printing and currency depreciation.
Steep tariff hikes were done in 2022 and 2023 after the rupee collapsed from 200 to 360 to the US dollar. (Colombo/ Feb 24/2023)