Final Call

The Asian Development Bank rapped Sri Lanka on Monday for dragging its feet on key electricity reforms, even as the Premier held crucial reform talks with warring trade unions. The Asian Development Bank rapped Sri Lanka on Monday for dragging its feet on key electricity reforms, even as the Premier held crucial reform talks with warring trade unions.

The Bank warned Sri Lanka to get its reforms and low cost generation in place, tackle unreliable supply and a huge Rs. 80 bn in debt.

“Sri Lanka needs to address squarely the issue of power supply, cost, and efficiency, through increased generation according to the least cost expansion plan; reduction of the short term debt burden of the power utility; and restructuring of CEB,” ADB Country Director for Sri Lanka, Alessandro Pio said.

“It is like a stool with three legs: it will not be stable and reliable unless all three are in place,” Pio said.

Nearly 75 percent of urban manufacturing firms in Sri Lanka have a generator as against 27 percent in China, costing three to four times as much to generate electricity.

Meanwhile, Ceylon Electricity Board unions were to meet with the Premier on Monday t