Minister of Energy Kumara Jayakody has denied media reports suggesting that the Ceylon Electricity Board (CEB) is currently debt-free. Addressing Parliament today (09), the Minister revealed that the CEB carries a debt burden of Rs. 323 billion, with no intervention from the government to absorb these debts.
“There are rumours circulating, particularly in the media, with the Public Utilities Commission of Sri Lanka (PUCSL) also commenting on the matter. However, the reality is that the CEB continues to service its debts, and the Treasury or government has not taken over any of them,” Minister Jayakody clarified.
Response to Profit Claims
The Minister’s statement came in response to MP Dayasiri Jayasekara’s query regarding reports of the CEB posting a profit of Rs. 167 billion and being debt-free. Minister Jayakody categorically refuted these claims, emphasizing the ongoing financial liabilities of the electricity board.
Electricity Tariff Reduction Timeline
MP Jayasekara also questioned the government’s failure to deliver on its pledge to reduce electricity tariffs, pointing out statements by President Anura Kumara Dissanayake promising a tariff cut of over 30% in the near future.
“Does ‘near future’ mean three years? Why are you misleading the public?” MP Jayasekara asked, expressing frustration over the delays.
In response, Minister Jayakody explained that the government’s plan for tariff reductions spans a three-year timeline, stating, “The government never promised an immediate reduction; it is part of a phased approach within the next three years.”
The clarification from the Minister comes amidst growing public scrutiny over electricity tariffs and the financial stability of the CEB, highlighting the challenges in balancing fiscal realities with public expectations.
