The cash strapped Ceylon Electricity Boards large thermal plants need urgent repairs, but the utilitys tariffs are not being revised, as politicians dillydally over its financial viability.
After years of behaving like a paranoid Ostrich and sticking its head in the sand whenever an awkward question is raised, the CEB finally came out with the real state of its internal affairs and the countrys power situation endash and its not good news, so go ahead and place that order for a generator.rn
rnSri Lankas electricity supplier has come to the end of the road.rn
rnThe threat to the CEBs existence is not limited to its messy finances - it extends into the CEBs generation and distribution capabilities as well, raising a big question mark on its ability to deliver on future demand for electricity.rn
rnFinancially, the CEB is caught between a rock and a hard place.rn
rnIts liabilities will hit Rs. 86 bn at the end of this year - over Rs.
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36 bn in short term debt and over Rs. 50 bn in loan term