CEB to obtain another loan to pay CPC outstandings

CEB to obtain another loan to pay the Ceylon Petroleum Corporation outstandings

by Staff Writer 19-01-2020 | 9:31 PM
COLOMBO (News 1st):- The Ceylon Electricity Board has decided to obtain another loan to settle the outstandings owed to the Ceylon Petroleum Corporation. Spokesman for the Ministry of Power and Renewable Energy Sulakshana Jayawardena said the loan is expected to be obtained through a state bank. The total amount to be paid to the CPC stands at a staggering Rs. 84 billion. Previously, the Ceylon Petroleum Corporation had informed the Ceylon Electricity Board several times that fuel would not be provided to them if the outstandings were not paid.