As country scrapes barrel for seven days to pay, two Russian ships finally unload badly required coal

By Ifham Nizam

The second shipment of coal is scheduled to be unloaded at the Norochcholai Coal Fired Power Plant Complex today despite rough seas; it is the first of the two shipments of 120,000 metric tonnes. However, despite Energy and Power Minister Kanchana Wijesekera’s twitter statement that USD 38 million had been settled as payment for two shipments of 120,000 metric tonnes of coal, only a part of it had been paid for, according to sources.

Fortunately for Sri Lanka both coal shipments had come from Russia, sources said.

Power and Energy Ministry officials said that only USD 14 million had been paid and the Ceylon Electricity Board (CEB) top management was doing its utmost to provide rupees to the Central Bank.

Officials also said that the People’s Bank could not go on providing overdraft to the CEB.

The CEB is very badly hit with daily loses of Rs. 500 million, while being saddled with nearly Rs. 50 billion in unsettled electricity bills of its customers, a senior official said.

Minister officials also said that Minister Wijesekera had held discussions with the Indian High Commission and it was understood that India would help Sri Lanka with further fuel credits.

“Two vessels carrying 120,000 MT of Coal began unloading after the payment of USD 38 million,” Minister Wijesekera maintained.

“With these two vessels the Coal requirement before the monsoon deadline is fulfilled.”

Officials pointed out that the Southwest monsoon was expected next month, and coal could not be unloaded onto barges due to rough seas. Coal could be next imported in September.

The Central Bank of Sri Lanka on Monday agreed to pay for ships carrying coal. A senior CEB official stated that the Central Bank had informed that it would provide the required dollars for the ships.