Sri Lanka’s Power Minister Ravi Karunanayake had recently out-cried at Parliament that country’s government owned Ceylon Electricity Board (CEB) needed a Rs. 40 billion bailout from tax-payers now for fuel bought on credit amidst another Rs. 89 billion loss projected for the year 2019.

"We need Rs. 40 billion to pay Ceylon Petroleum Corporation (CPC) immediately," Minister Karunanayake had told parliament adding that the Treasury has projected a loss of Rs. 89 billion for this year whilst no money has yet been sent from Treasury to the CEB.

"The CPC had said they will stop supplying diesel if debts are not settled. We do not need Rs. 89 billion but only Rs, 40 billion" Karunanayake had stated further explaining that in 2015, the CEB made an operational profit of Rs. 20.7 billion helped by coal power and good rain.