Recent losses incurred by the Ceylon Electricity Board (CEB) due to coal imports have been identified as a key factor behind the recent increase in electricity tariffs, according to Evan Papageorgiou, Head of the International Monetary Fund (IMF) Mission in Sri Lanka.
He made these remarks while addressing a media briefing held at the Central Bank of Sri Lanka yesterday (09).
Papageorgiou further stressed that tariff revisions are necessary to ensure the financial stability and continued operation of the CEB.
He noted that the losses associated with coal shipments have had a direct impact on the CEB’s profitability and were among the reasons behind the recommendation to increase electricity tariffs. He also highlighted the need for improved coordination among relevant stakeholders to prevent similar losses in the future.
