Request to increase fuel limit provided CEB up to Rs 90 bn

A request has been made to increase the fuel limit provided to the Ceylon Electricity Board (CEB) by the Ceylon Petroleum Corporation (CPC) up to Rs 90 billion.

Currently, the fuel limit provided by the CPC to the CEB is Rs 80 billion; however, reportedly, fuel has been provided past its limit until Rs 84 billion.

Thereby, the top management of the CPC has requested the Minister of Power and Energy Mahinda Amaraweera to take alternative action.

As CPC provided fuel to CEB under a cabinet decision, the CEB officials have proposed to the Minister to obtain Cabinet approval to increase the fuel limit up to Rs 90 billion.

Stating that he will submit a cabinet proposal on the matter, the Minister said that necessary steps will be taken to settle the arrears of CPC amounting to Rs 84 billion through the income of the CEB.

Amaraweera further said that the demand for electricity has increased by 27% in the last five years and the CEB has incurred losses due to the failure to implement new power projects for increasing the production of electricity.