The Ceylon Electricity Board (CEB) is set to incur a loss of Rs 29 billion this year. Latest statistics show that the sales revenue is at Rs 206 billion while other income took the figure to Rs 222 billion. The expenditure has been placed at Rs 287 leaving a deficit of 65 billion. Allowing for depreciation it would work out to the loss of Rs 29 billion.
This is besides the CEB requiring a further Rs 50 billion to buy emergency power.
These developments come at a time when the CEB has not launched any major programmes to enhance the country’s power output since 2014.
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.
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