Sri Lanka’s Ceylon Electricity Board to lose Rs85bn in 2019
ECONOMYNEXT – Sri Lanka’s state-run Ceylon Electricity Board has run up losses of 85 billion rupees in 2019 power and energy minister Mahinda Amaraweera had said.
The utility also had 200 billion rupees of debt, he had said.
The utility owed 82 billion rupees to state-run Ceylon Electricity Board and another 43,000 billion rupees to private power producers.
The new administration had appointed Vijitha Herath, an engineer as the new chairman.
Amaraweera had asked Herath to save the agency from debt and make it a profitable company.
President Maithripala Sirisena in 2015 cancelled a coal plant in Trincomallee that was about to be advertised.
The last administration was also unable to award a tender to build a 300MegaWatt dual fuel plant, which has now ended up court. (Colombo/Dec20/2019)
Economic Intelligence Unit of the Ceylon Chamber of Commerce
Jehan Perera - Executive Director National Peace Council