Sri Lanka : Ceylon Electricity Board to lose Rs. 40 billion this year, Minister says

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* Ceylon Electricity Board to lose Rs. 40 billion this year, Minister says
Sun, Aug 29, 2010, 11:30 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 29, Colombo: Sri Lanka Minister of Power and Energy said today that the estimated loss for the Ceylon electricity Board (CEB) this year will be about Rs. 40 billion.

CEB's cost for electricity generation and distribution in 2010 is Rs. 160 billion but the income is Rs. 120 billion, the Minister pointed out.

The Minister highlighted this issue addressing the public today after opening a center for obtaining consumer complaints at Magalla, Galle.

He said that this massive loss is covered by the state tax money levied from imports such as rice, milk powder, and fuel etc. He emphasized that the major reason for this massive loss is CEB being a prisoner of nine companies.

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