News
Govt. urged to declare fuel supply as essential for power generation
The Government has been requested to declare the supply of fuel for the power sector as essential under an impending Indian credit line of US$ one billion to meet fuel requirements to generate electricity for the next two months.
The move by the Public Utilities Commission has been submitted as a cabinet note with a warning that the power cuts could be extended up to five to six hours if restrictions on fuel supplies continue.
The Commission has estimated that US$ 150 million will be required for the next two months during which the requirement for power generation will be 145,000 Mt of furnace oil, 110,000 Mt of diesel and 42,000 Mt of naptha.
In addition, the Commission has also recommended that the Ceylon Electricity Board and the Lanka Electricity Company Pvt Ltd collect at least Rs 25 billion from the outstanding payments due from consumers within the next three months and utilise the money for fuel imports.
Among the other proposals are that the Treasury grants at least Rs 30 billion for the import of fuel in the next two months and the Central Bank makes available the required foreign currency for imports.
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