CEB energised to slash 2011 costs by Rs. 15 b

Friday, 12 November 2010 23:06 - - {{hitsCtrl.values.hits}}

The Ceylon Electricity Board (CEB) is being energised to slash costs for 2011 by Rs. 15 billion with strong reduction in power generation, maintenance, distribution and loan payments, to minimise drain on public finance.

The CEB has been allocated Rs. 159 billion for 2011. Out of this, the highest of Rs. 107 billion is for electricity generation with Rs. 16,754 million for distribution, Rs. 7,700 million for generator maintenance and Rs. 3,997 million for interest payments.

The Power and Energy Minister Champika Ranawaka has created a new management plan that would optimise the use of national resources and ensure that they are properly monitored, thus reducing wastage and corruption.

The expenditure reduction includes Rs. 3.3 billion from direct electricity generation expenses, Rs. 2.5 million from maintenance fees, Rs. 1.5 billion from loan payments and Rs. 1 billion from distribution.

Following discussions with the CEB management, the Minister had managed to reduce the estimates presented by them and they had also agreed to slash the internal capital investment expenditure.

(www.news.lk)