Structural adjustments to CEB, CPC

Charumini de Silva

Enhancing the efficiency and productivity of Ceylon Electricity Board (CEB) and Ceylon Petroleum Corporation (CPC) is vital in moving towards a higher economic growth in the years to come Central Bank Governor Ajith Nivard Cabraal said.

“Good managing skills are essential as the economy is highly dependant on these two key Government organizations,” he said.

“The CEB and the CPC need to be viable and to be viable the organizations have to sell their products at least to cover the cost. If the oil prices keeps increasing the two organizations need to take action. However, if the problem occurs long term more structural adjustments should be made in the next few months,” he said.

“It is important to move eagerly towards alternative energy sources and Sri Lanka has already gone for coal power generation, which is timely. Due to the rain there were no major issues in hydropower. However, with the oil prices increasing the Central Bank is carefully monitoring the situation and the impact of it is to inflation will be watched in the next few months,” Cabraal said.