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National grid to lose another 650 megawatts?

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The national power grid could lose another 650 megawatts since the Ceylon Electricity Board (CEB) has failed to settle payments amounting to Rs.35 billion to private sector power generating companies, the Sri Lanka Mirror learnt.

The CEB has not paid payments for the units of electricity provided to the national grid by the companies that generate electricity through small-scale power plants, wind, solar power and waste recycling.

The last payment has been made in December 2021.

According to the agreement signed with the companies to purchase electricity, the payment must be settled at the end of each month and if payments are not settled, an interest must be paid.

In the agreement, the CEB has agreed to pay the interest based on existing interest rates.

Meanwhile, it was reported that the last payment for the solar power systems fixed on roof have been made only up to September last year.

It was reported to the Sri Lanka Mirror that some projects launched with funds obtained from bank loans are currently unable to settle their loans.

It was said that some companies bear the day-to-day expenses of maintaining these projects by taking loans at 32% interest rate.

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Cabinet decision to suspend ‘Parate Executions’

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All Parate Executions have been suspended until Dec. 15, as per a Cabinet decision made today (26 Feb.).

The relevant proposal was furnished by President Ranil Wickremesinghe, in his capacity as the Minister of Finance, following a request made by Justice Minister Wijeyadasa Rajapakshe, and Minister of Industries Ramesh Pathirana.

Accordingly, the relevant amendments are due to be presented before the Parliament soon.

State Minister of Finance Ranjith Siyambalapitiya had informed Parliament last week that steps will be taken to suspend the powers of the ‘Parate execution’ law for a certain period for the purpose of protecting the small and medium-scale entrepreneurs (SMEs).

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Parate execution law to be suspended: Siyambalapitiya

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Deshabandu Tennakoon appointed as IGP

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Deshabandu Tennakoon has been appointed as 36th Inspector General of Police in Sri Lanka.

President’s Secretary, Saman Ekanayake had handed over his appointment letter earlier today afternoon (Feb. 26).

Since Nov. 29, 2023, Tennakoon served as the Acting IGP. Deshabandu Tennakoon joined the police service in 1998 as an Assistant Superintendent of Police.

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Palestinian PM resigns

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Palestinian Prime Minister Mohammad Shtayyeh has announced the resignation of his government, which rules parts of the occupied West Bank, due to the escalating violence in the occupied territory and the war on Gaza.

“The decision to resign came in light of the unprecedented escalation in the West Bank and Jerusalem and the war, genocide and starvation in the Gaza Strip,” said Shtayyeh, who submitted his resignation to Palestinian Authority (PA) President Mahmoud Abbas on Monday.

“I see that the next stage and its challenges require new governmental and political arrangements that take into account the new reality in Gaza and the need for a Palestinian-Palestinian consensus based on Palestinian unity and the extension of unity of authority over the land of Palestine,” he said.

Shtayyeh’s comments come as US pressure grows on Abbas to shake up the PA and begin work on a political structure that can govern a Palestinian state following the war.

However, Israeli Prime Minister Benjamin Netanyahu has on numerous occasions rejected calls for the PA under Abbas to take control of a Palestinian state and govern Gaza.

Last week, Israeli lawmakers backed Netanyahu’s rejection of any “unilateral” recognition of a Palestinian state.

“The Knesset came together in an overwhelming majority against the attempt to impose on us the establishment of a Palestinian state, which would not only fail to bring peace but would endanger the state of Israel,” said Netanyahu.

(Aljazeera)

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