The Treasury is covering heavy dues owed by the Ceylon Electricity Board (CEB) to Ceylon Petroleum Corporation (CPC) while providing a government subsidy to the CEB without burdening consumers, Finance Ministry sources said. This has paved the way for the CEB to declare a profit of Rs.5 billion during the 2010 financial year.
Hong Kong and Chinese investors of two star-class hotels to be built on the area around the Galle Face Green face another hurdle of getting location approval as the Environmental Impact Assessment (EIA) has not been carried out as yet, official sources said.
