Debt restructuring success revitalises energy sector – State Minister
Power and Energy State Minister Indika Anuruddha said that due to the success of the debt restructuring activities, the projects related to the energy sector, which were stalled during the last crisis, will be re-implemented and it will be of great help in solving the power crisis.
The State Minister also pointed out that some parties in the Opposition are engaged in sabotage to weaken the programme launched by the Government to develop the country.
State Minister Anuruddha stated this at a media briefing conveyed these updates during a media briefing held under the theme ‘Collective Path to a Stable Country’ at the Presidential Media Centre (PMC) yesterday (4).
The State Minister also said: “Many energy sector projects were stalled during the recent crisis. However, agreements for debt restructuring have been signed with bilateral creditor countries. This has resolved the legal issues necessary to restart these foreign-funded projects. As a result, the successful debt restructuring will significantly help address the country’s energy crisis.
“Additionally, the Ceylon Electricity Board (CEB), the Public Utilities Commission of Sri Lanka (PUCSL) and the Power and Energy Ministry have calculated the costs of producing electricity using rooftop solar panels. “Consequently, prices have been reduced and a related Cabinet Paper was presented last week. This has enabled us to apply for electricity purchase agreements at a lower price, allowing the CEB to achieve a loss-free situation.
“Furthermore, feasibility studies and environmental reports for the Adani project are still in progress. Once these are completed, it will be discussed whether the project can proceed under the current pricing conditions.
It has been observed that some Opposition parties are engaging in sabotage activities to undermine the Government’s development programme. They have also issued false statements regarding the construction of power plants such as Uma Oya and Sampur.”
The post Debt restructuring success revitalises energy sector – State Minister appeared first on DailyNews.