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| Sunday, 12 June 2005 |
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Discussion on CEB restructure Bill at final stage The final draft Bill in respect of the restructuring of the Ceylon Electricity Board (CEB) will be presented for Cabinet approval once the Trade Unions give their consent to the Bill shortly, Power and Energy Minister, Susil Premajayantha told the Sunday Observer. A Special Committee appointed by the Ministry is going through the proposals made by the Trade Unions and the final draft will be prepared with the consent of Trade Unions, he added. Once the draft is approved by the Cabinet, it would be presented to Parliament, he said. Minister Premajayantha assured that under any circumstances the CEB would not be privatised and with this effect a special Cabinet paper has already been submitted and it would be given absolute protection for the CEB. Under the proposed reforms Government intends to improve the efficiency in the management and the financial stability of the CEB. At present the CEB is running at a loss. It owes over Rs. 33 billion to the State banks including People's Bank and Bank of Ceylon, he noted. The due payment is on increase with the accumulation of bank interests and the CEB loses another Rs. 12 million daily following the sudden oil price hike in the World Market, he added. (AM) |
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