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CEB yet to pay Rs. 54 b to CPC: CEB losses on the rise 

13 Jul 2020

By Maheesha Mudugamuwa  The failure to add more power units to the national grid for several years has resulted in the Ceylon Electricity Board (CEB) recording staggering losses, and the loss for this year is expected to be around Rs. 120 billion, The Morning learnt. Furthermore, the CEB still owes the Ceylon Petroleum Corporation (CPC) a staggering amount of money even after the Treasury has paid millions of rupees in March on behalf of the board, The Morning learnt. According to CEB Chairman Eng. Vijitha Herath, the Treasury paid a sum of Rs. 48 billion in March.  As learnt by The Morning, the Treasury paid the CEB its dues out of the profits earned by the CPC due to the reduction of fuel prices in the world market. Speaking to The Morning, Herath said that the CEB still owes the CPC around Rs. 54 billion.  "The Treasury paid Rs. 48 billion, and Rs. 10 billion has been paid as transport cost. The rest has been deducted from the CEB's debt," he added. According to him, the total amount the CEB has to pay the CPC as debt was Rs. 92 billion. As claimed by the Chairman, the reason for the CEB's losses was due to its failure to add a single unit of power to the national grid since 2015. The CEB is likely to record a loss of over Rs. 120 billion in 2020 based on the current projections, according to experts.   


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