A special discussion on the financial balance sheet of the Electricity Board in the restructuring process of the Electricity Board was held online with the representatives of the International Monetary Fund and the World Bank with the participation of the Minister of Power and Energy Kanchana Wijesekara.
It has been agreed to submit to the International Monetary Fund the plan for restructuring the financial balance sheet of the Electricity Board by the end of June 2023.
Accordingly, representatives of the World Bank and representatives of the International Monetary Fund, together with the Ceylon Electricity Board, will review all project loans received by the Electricity Board, loans payable to the Petroleum Statutory Corporation, loans payable to renewable suppliers and other suppliers, loans received from state banks and other loans. The plan to restructure as well as cover the losses incurred in 2023 will be prepared.
According to the observations and suggestions of the World Bank and the International Monetary Fund, the Ministry of Power and Energy is expected to submit the strategic plan for restructuring the financial balance sheet of the Electricity Board for the approval of the Cabinet.