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* CPC owed over Rs. 86 billion for fuel provided on credit for power generation
Mon, Feb 22, 2021, 10:25 am SL Time, ColomboPage News Desk, Sri Lanka.

Feb 22, Colombo: The Ceylon Petroleum Corporation (CPC) is owed Rs. 8,608 million by the Ceylon Electricity Board (CED) and independent power generators for supplying fuel on credit to generate electricity.

According to a government spokesman CEB owes Rs. 7,375 million and the Independent Electricity Generators owe Rs. 1,233 million, state newspaper Dinamina reported.

It is said that this debt is due to the bad settlements of the Electricity Board and the independent power generators.

The Ceylon Petroleum Corporation (CPC) supplies fuel on a loan basis considering the national requirement and provides a liter of solid fuel for power generation at a price of Rs. 70.

The government has decided to provide a liter of solid fuel at Rs. 70 per liter to generate electricity due to the reduction in fuel prices in the international market and several other factors.

Accordingly, the price of a liter of solid fuel which was Rs. 96 has been reduced by Rs. 26 to Rs. 70.

 

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