The Sri Lanka Petroleum Corporation is now financially stable- Minister of Power and Energy Kanchana Wijesekara


 Throughout a media briefing held yesterday (04), Minister of  Energy and Power, Mr. Kanchana Wijesekera, addressed accusations from numerous events relating to the electrical energy value revision. He highlighted that in June’s value revision, the federal government offered a big 55% aid in electrical energy costs to three.5 million out of the entire 6 million shoppers.


Moreover, the minister emphasised that concessions had been granted to spiritual institutions and industries throughout the revision course of. Furthermore, he talked about the institution of a beneficial atmosphere for initiating new renewable electrical energy initiatives.


Minister Wijesekera, made these statements throughout his participation in media briefing held on the Presidential Media Centre underneath the theme of “Collective path to a secure nation.”


Relating to gasoline provide, the minister introduced that the primary gasoline cargo from one of many two corporations contracted by the Petroleum Company would arrive in Sri Lanka on the finish of the present month. This marks the start of gasoline distribution operations by the brand new suppliers.


Moreover, the minister expressed confidence within the authorities’s program, led by President Ranil Wickremesinghe, to advertise monetary stability in each the Electrical energy Board and the Petroleum Company. These entities he mentioned have undergone monetary crises however are actually on a path in direction of reaching stability. 


Addressing the press convention the minister mentioned;


Prior to now yr, our nation confronted challenges comparable to gasoline queues and energy cuts. Nonetheless, underneath the selections made by the brand new authorities, important progress has been achieved in eliminating gasoline queues and making certain steady electrical energy provide.


The revision of electrical energy costs happened in January and June, benefiting round 6 million family shoppers. A 55 per cent value discount was carried out for roughly 3.5 million shoppers utilizing 30 to 60 models of electrical energy. Moreover, concessions had been offered to the commercial sector throughout the value revision. There are roughly 40,000 registered spiritual shrines, and about 15,000 of them devour lower than 30 models of electrical energy.


The electrical energy board had been going through important monetary losses, with a complete lack of Rs. 409 billion previously. Nonetheless, final yr’s loss was decreased to Rs. 167.2 billion. The federal government has efficiently accomplished all funds to suppliers and has created a beneficial atmosphere for initiating new renewable electrical energy initiatives. Moreover, steps have been taken to take away a Rs. 120 billion debt from the stability sheet of the Petroleum Company, ensuing within the electrical energy board’s improved monetary place.


With the strengthened monetary place, the electrical energy board plans to renew upkeep work and supply new connections that had been placed on maintain previously three years. Out of the 36,000 new connection functions acquired, 20,000 connections have already been accomplished, and efforts are underway to fulfil the remaining connections inside the subsequent two months.


Moreover, the Petroleum Statutory Company has established contracts with two new companies for a constant provide of gasoline since September final yr. These companies are scheduled to start gasoline provide by the tip of this month, and the primary gasoline cargo is anticipated to reach in Sri Lanka on the identical time. Round 150 gasoline stations have been registered by these companies to date, making certain dependable gasoline availability.


After the arrival of their ship in Sri Lanka, gasoline distribution was initially carried out underneath the title of Ceypetco. Nonetheless, future distribution will likely be carried out underneath their very own firm title. To deal with excellent money owed, together with these owed to Indian and Iranian collectors in addition to gasoline suppliers, the Ministry of Finance has imposed a tax of Rs.50 per liter of gasoline throughout distribution.


The Petroleum Company has efficiently repaid all loans owed to the Financial institution of Ceylon and the Individuals’s Financial institution, leading to its strengthened monetary place. Regardless of this, the restructuring technique of the Petroleum Company will proceed as deliberate. The revised draft for the restructuring of the Electrical energy Board has been forwarded to legislators, and as soon as acquired, it is going to be submitted to the Lawyer Normal and subsequently introduced to the Cupboard for suggestions. There’s a chance of passing a brand new act on this regard.


There is no such thing as a strain on the staff of the electrical energy board, and efforts are being made to confirm the standing of staff who’ve accomplished NVQ programs however are presently unemployed.


Authorized actions are being taken in opposition to gasoline stations that failed to take care of oil shares throughout the gasoline value revision. One such station, the Rajagiriya petrol station, has already been taken over by the federal government. Complaints have been acquired relating to 120 gasoline filling stations that didn’t adjust to inventory upkeep necessities throughout gasoline value revisions, and future plans contain implementing applicable authorized measures.


The choice has been made to not rent new staff, as the present variety of staff within the Ministry and its related establishments is deemed enough. The President, together with the Prime Minister and the federal government, has deliberate to boost the effectiveness and effectivity of presidency establishments based mostly on collective choices.


Traders who beforehand submitted tenders for renewable power haven’t but responded. It has been found that a number of the organizations that had been awarded tenders have offered them to different entities. Because of this, the tender name for 500 megawatts of renewable power is anticipated to be cancelled within the upcoming cupboard assembly, and a contemporary tender name will likely be issued. Moreover, the mandatory permissions have been granted to the ‘Adani’ firm for the development of a 500 MW renewable power energy plant. Their power technology is projected to be built-in into the nationwide grid by December of subsequent yr.


Whereas nearly all of staff from these establishments have expressed their need for the restructuring of the Petroleum Company and the Electrical energy Board, some protests have emerged as a result of issues relating to potential lack of commerce union privileges. Nonetheless, granting wage increments and bonuses to loss-making organizations isn’t deemed acceptable. Such practices usually are not prevalent in any nation worldwide. A 25% wage improve each three years for the 24,000 staff of the Electrical energy Board has been discontinued.


Wage increments are allotted completely to staff who’re actively working and exhibit productiveness. It’s a frequent observe worldwide to supply wage increments selectively somewhat than uniformly throughout a company. Equally, bonuses distributed in April and December is contingent upon the corporate’s profitability and is awarded solely to staff who contribute successfully.


In collaboration with Indian mortgage help, plans are underway to equip authorities establishments and spiritual websites with photo voltaic panels. Every spiritual place will likely be supplied with a 5 kilowatt photo voltaic panel, whereas authorities establishments will obtain photo voltaic panels appropriate for his or her roof sizes. The implementation of this undertaking is scheduled to start inside the subsequent two months.

Consideration has additionally been directed in direction of exploring nuclear power choices, with plans to include it into the 2023-2042 technology plan. A complete analysis will decide the suitability and viability of nuclear power for our nation, and subsequent choices will likely be made accordingly.


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