Another sigh . . .

RELIEF: Minister of Enterprise Development and Industrial Promotion Dr. Sarath Amunugama has said that Rs. 6 billion is being allocated to the Ceylon Electricity Board to enable it to maintain the Electricity Tariff at current levels to ease the burdens of the industrial sector.

As the premier Industrial Chamber representing the industrial sector in the country, said that they welcome this news unreservedly and thank the Minister and the Government for this move.

Firstly we appreciate the Government’s commitment to give its highest priority for the maintenance of the competitiveness of the industrial sector even under difficult circumstances.

This augurs well for the industrial sector and we thank the Government for working for the progress of the industries in Sri Lanka. If not for this wise step by the Government the tariff may have continued to increase further aggravating the high cost of production.

It is noted that this Rs. 6 billion is a subsidy offered to the Ceylon Electricity Board to off-set its losses due to increased cost of fuel, depreciating rupee, a statement issued by the Chairman, The Ceylon National Chamber of Industries states.

Ceylon Electricity Board must be compelled to operate profitably at a tariff, which are market driven and not on cost, plus basis. Until this is realized all consumers will be called upon to pay for their lapses the very survival of the Industrial Sector too will be at stake.

The State will be compelled to channel away its limited resources unproductively at the expense of the National Development.