The Ceylon Electricity Board (CEB) is facing losses between Rs 75 - 80 billion due to the purchase of power from Independent Power Producers (IPP)'s, CEB Engineers Union (CEBEU) President Saumya Kumarawadu said.
At present, the CEB has purchased 100MW's of power from an IPP in order to cover up the deficit of 300 MW's which has been caused due to the drought.
Further, negotiations are underway to purchase 70MW's of electricity from Ace Power Ltd in addition to some tenders which will be awarded to other IPP's in due course.
Meanwhile, steps are also being taken to renew contracts which were signed with other IPP's for a period of one year, the CEBEU President said.
(Reporting by Damith Wickramasekara)
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
Deputy Minister of Finance and Economic Stabilization and NPP National List MP Harshana Suriyapperuma who is tipped to be named the next Finance Ministry Secretary resigned from Parliament today.
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