Sri Lanka provides 55% relief in electricity prices

Colombo, July 5 (IANS) Sri Lanka's Minister of Power and Energy Kanchana Wijesekera said the government provided a 55 per cent relief in electricity prices to 3.5 million out of a total of 6 million consumers in June.

The Minister told the media that significant progress has been achieved in eliminating fuel queues and ensuring continuous electricity supply after Sri Lanka saw massive power cuts in the past year amid the worst-ever economic crisis, reports Xinhua news agency.

Wijesekera said a favourable environment for initiating new renewable electricity projects has been created.

Regarding fuel supply, the minister said that the first fuel shipment from one of the two companies contracted by the Ceylon Petroleum Corporation would arrive in Sri Lanka at the end of July, marking the beginning of fuel distribution operations by the new suppliers.

The minister expressed confidence in the government's program to promote financial stability in both the Ceylon Electricity Board and the Ceylon Petroleum Corporation.