BOI zones get electric shocks!
Investors in Sri Lanka are currently confused with decisions taken to interrupt the electricity supply to the export manufacturing zones since on some days they are compelled to lurk in the dark.
Uncertainty prevails at present as the Board of Investment (BOI) companies have not yet been informed in writing whether the electricity supply will be interrupted or not, FTZ Manufacturers Association General Secretary Dhammika Fernando told the Business Times on Wednesday.
He pointed out that they were subjected to electricity interruptions on Tuesday as a result of which they face immense hardships as they are unable to purchase sufficient fuel to power their generators.
BOI authorities are said to have met the Ceylon Electricity Board authorities to discuss possibilities of exempting the BOI zones of power disruptions.
As a result of this meeting, it is assumed there was no electricity interruption on Wednesday but the companies remain uncertain of what is in store in the future.
Mr. Fernando also said that switching over to generators does impose an additional cost on the companies but the diesel required for these is also not easily available.
But authorities at the Ceylon Petroleum Corporation have agreed to provide priority distribution to the fuel stations serving the zones.
However, investors want consistency and sustainability that is currently lacking, Mr. Fernando said adding that “we cannot go on a hand-to-mouth” basis and noted that they are unable to plan in advance under the current crisis conditions.
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