President assures democratic restructuring of CEB & CPC

[April 1, 2005 - 10.30 GMT]

President Chandrika Kumaratunga assured her Government would strive to keep to the 51/49 per cent ratio when restructuring state enterprises. She said yesterday the restructuring of the Ceylon Electricity Board (CEB) and the Ceylon Petroleum Corporation (CPC) would be on a democratic basis and will be for the benefit of the consumers. The planned exercise would bring down the price of a unit of electricity by Rs. 2.80.

Kumaratunga said, “Democracy does not mean the opinion of a handful. My Government in the future will go ahead with decisions in the strictest meaning of democracy” and that the Government’s effort so far to obtain 100 per cent consent of everyone has proved unsuccessful.

The President said the Government has made its position clear to the unions, that restructuring would in no way effect the employees’ rights and that it would be done with the Government’s share intact.

Kumaratunga said international monetary organizations such as the Asian Development Bank have agreed to grant a 40-year pay back period for the outstanding loans of Rs. 100, 000 million of the CPC and CEB if the Government goes ahead with the restructuring.

“Although a few unionists are of a different opinion, the employees should also think responsibly and independently of their company’s future,” said the President.







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Last Updated Date: April 1, 2005 - 10.30 GMT


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