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Developers of power plants say the sector is losing credibility with investors because of regular policy U turns and delays in project approval.









Developers of power plants say the sector is losing credibility with investors because of regular policy U turns and delays in project approval. Investors last week encouraged the government to go ahead with reforms spelt out in an Act passed in 2002 they say will help mitigate some of the risks for private sector investment.

Sri Lanka's crisis riddled energy sector has been depending on expensive emergency power for almost a decade due to lack of investment.

The South Asian Regional Energy Coalition, a body that influences energy policy and reforms in the region, says that the sector is losing credibility with investors because of delayed reforms.

"The Act that was passed in 2002 had a lot of public consultation etc. If you are going to change that now you must look into implications of that change like who is gong to lose as a result," says Lalith Gunaratne, South Asian Regional Energy Coalition.

"The credibility of the country and the sector has gone down as a result.

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