CEB to obtain Rs. 15 bn worth loans in attempts to restructure

CEB to obtain Rs. 15 bn worth loans in attempts to restructure

Written by Staff Writer

22 Feb, 2020 | 9:39 pm

Colombo (News 1st):- Journalists questioned Minister Dr Bandula Gunawardene on a decision by the CEB to obtain loans amounting to Rs. 15 bn.

Journalist:

“The CEB has decided to obtain loans amounting to Rs.15 bn from two state banks. Does a bankrupt organization that is already in debt, have the ability to obtain more debt?”

Co-Cabinet spokesperson, Minister Dr.Bandula Gunawardana:

“If we don’t give life to a bankrupt company, there will be no power for the general public. So the government must support the CEB and help it rebuild itself. The new executive board of the CEB that will be appointed after the election will be responsible to manage and repay the debt and to restructure the organization.”

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