CEB expected to incur losses worth Rs 120 billion in 2020

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Jan 1, 2020
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The Ceylon Electricity Board (CEB) is expected to incur losses upto Rs 120 billion this year due to the lack of power generation projects, Power and Energy Minister Mahinda Amaraweera said.

He claimed that the CEB had suffered losses amounting to Rs 85 billion last year as the previous government had not undertaken any power-related projects since 2017.

Accordingly, Mr. Amaraweera stated that the current government will initiate new projects in a bid to recover the losses faced by the state authority.

(Reporting by Damith Wickramasekara)