President’s decision to reduce energy prices hailed
The business community and industrial chambers commended President
Mahinda Rajapaksa’s decision to reduce electricity and fuel prices to
mark Chinese President Xi Jinping’s state visit last week.
Industrial Development Board Chairman and Advisor to the President,
Nawaz Rajabdeen said that the reduction in energy prices was a great
relief for industries and the people who could save that money and
invest on it developing their livelihood.
The President had said that when the Norochcholai Coal Power plant is
commissioned energy prices will be reduced. The President’s decision
will provide a fresh boost for industrial development,” Rajabdeen said.
He said that the Achchuveli Industrial zone which resumed operations
last month and many other industrial zones to be commissioned shortly
will benefit immensely from the fuel and energy price reduction.
Former Advisor to the Ministry of Agriculture and the Chairman of the
Agriculture Committee of the Export Development Board Sarath De Silva
said that the fuel price reduction will be beneficial for water
management, preservation pumping, energy for drip irrigation and
artificial lighting for ply housing which are essential to mitigate the
adverse impact of global climate change.
“The reduction is important as agriculture and plantation account for
a major part of transportation. The fuel price reduction will reduce the
overhead costs and bring down the farm gate price of produce which will
also be a major relief for consumers”, De Silva said.
There is no point in providing relief or subsidies for a few people
and a program of this nature will benefit the entire country.
Jaffna Chamber of Commerce President K. Poornachandran said that the
President’s decision will help farmers in the North who use kerosene
pumps for irrigation and added that it will provide relief to most
people who use kerosene for household lighting.
CCC Solutions (Pvt) Ltd., Managing Director/CEO Chandula Abeywickrema
said that the price reduction will be a huge boost for small and medium
sector industries to reduce their operational and overhead costs. SMEs
contribute a major share to the country’s export turnover.
The price of kerosene was reduced by Rs. 20 per litre, petrol by Rs.
5, diesel by Rs. 3 and electricity by 25 percent.