The continuous power cuts carried out by the Ceylon Electricity Board has adversely affected exports and potential Foreign Direct Investments, claimed Executive Committee Member of the Federation of the Chambers of Commerce, Dr. Krishanth Wisenthige today (10).
He was speaking at a ‘Professionals for a Better Future (Viyathmaga)’ press conference held at the Viyathmaga headquarters in Ethul Kotte.
“People can think that it’s only large companies in Sri Lanka that export products. But that’s not true because there are many small scale manufacturers of coconut related-products which export. When you’re exporting products, it’s essential to earn the trust of the overseas buyer by delivering the products on time, but due to these power cuts these entrepreneurs are unable to meet the demands,” he noted.
Wisenthige further added that potential foreign investors would also have second thoughts about investing in a country that has three hour power cuts.
“Who would want to invest in Sri Lanka with all these power cuts? There are plenty of developing countries out there that do not have this sort of energy crisis,” he added.
Meanwhile, Chartered Engineer Sanjeewa Anupama also speaking at the Press said the country needed more dis-patchable energy generation.
“Most of the energy sources such as solar, wind and even hydropower are non-dispatchable energy sources. We only get them when there is wind, sun or water. At a time when non of this is available, we need energy sources that are dispatchable, which means energy sources that will continuously be available on demand such as coal,” he added.
Wisenthige further said the economy could have benefitted from the addition of the Sampur Power Plant, and added that while there would have been a certain amount of environmental repercussions, the benefits would have outweighed the drawbacks.
Singaporean fuel purification plant in H’tota
07:28 PM Apr 11 2019
Mangala Yapa appointed BOI Chairman
12:02 PM Apr 11 2019
Continuous power cuts have adverse impact on economy - Chambers of Commerce
07:17 PM Apr 10 2019
‘Spot’ makes pyrrhic gains
07:22 PM Apr 08 2019
Last month’s foreign debt repayment costs $ 813M
05:25 PM Apr 06 2019
SriLankan paid Rs 224M for advice to annul agreement
07:05 PM Apr 04 2019
Unemployment increases to 4.6%
05:25 PM Mar 29 2019
SL’s debt increases by over Rs 626B – Eran Wickramaratne
07:37 PM Mar 26 2019
China stands ready to work with India to help boost SL's development
05:30 PM Mar 22 2019
Oman denies it has agreed to invest in SL oil refinery project
03:55 PM Mar 21 2019
PM tells pvt sector to invest in flights to Jaffna
01:09 PM Mar 21 2019
Rice cultivation impacts OFCs - Potatoes hit by low import taxes
05:00 PM Mar 19 2019
|Currency||Buying Rate (Rs.)||Selling Rate (Rs.)|
|Exchange Rates - Central Bank of Sri Lanka|
Lasantha’s murder: Civil lawsuit unsealed in US against Gota
02:30 PM Apr 17 2019
Lightning kills three in North
08:56 AM Apr 17 2019
Sinhala - Tamil New Year celebrated in the skies
12:21 PM Apr 17 2019
President appoints 21 lawyers as President's Counsel
04:39 PM Apr 17 2019
Ten killed in van-bus collision
08:19 AM Apr 18 2019
Recent Print Editions
Wiggy did not serve the people – Perumal Lived in own imaginary world
06:38 AM Apr 20 2019
Supporting Govt or not ITAK to decide on 26 April
06:37 AM Apr 20 2019
More than 200,000 visit Sri Pada
06:36 AM Apr 20 2019
WPC term ends tomorrow
06:35 AM Apr 20 2019
Spl Opposition meeting on Monday
06:34 AM Apr 20 2019