The Power and Energy Minister says that the Ceylon Electricity Board (CEB) would be converted into a vibrant, economically stable institution within the next five years.
Power and Energy Minister Champika Ranawaka has told parliament that the government’s plan is to reduce the losses incurred by the CEB gradually and to develop the power distribution systematically in the next few years.
According to Ranawaka, although the CEB has recorded a revenue of Rs 130 million, its current losses were at Rs. 29 billion.
He has added that the government was compelled to increase the electricity tariffs due to the crisis in the CEB.
Ranawaka has observed that the proposed 8 percent increase in electricity tariffs will not have an adverse impact on 75% of the power subscribers as usage of power of these households does not exceed 90 units.
He has explained that all governments that ruled the country before 2005 were responsible for the crisis in the power sector.