The Ceylon Electricity Board (CEB) will be broken into 14 privately owned enterprises under the proposed amendments to the Electricity Act, the Public Utilities Commission of Sri Lanka (PUCSL) announced.
PUCSL Chairman Janaka Ratnayake said in a statement that the Norochcholai Coal Power Plant and all hydropower stations, including the Mahaweli and Luxapana hydropower stations, are among the state enterprises to be privatized.
He further stated that a new company will be established to manage the CEB’s Employees Provident Fund (EPF), Employees Trust Fund (ETF), and pension funds.
Janaka Ratnayake added that the PUCSL will also be replaced by a new Electricity Commission governed by the Minister of Power and Energy. (NewsWire)