No power cuts for free trade zones under BOI
March 15, 2022 12:22 pm
Power Minister Pavithra Wanniarachchi says the rolling power interruptions will no longer be experienced at free trade zones under the Board of Investments (BOI).
The lawmaker conveyed this during a discussion held with State Ministry of Aviation and Investment Zone Development Secretary Janaka Chandragupta, BOI Chairman Raja Edirisooriya, BOI Director-General Renuka Weerakoon and several other officials of the board.
The officials told the minister that nearly 14 free trade zones are currently under the purview of the BOI, and that the daily power interruptions have disrupted the operations at the factories located within these trade zones.
This has also hampered the arrival of investors, the BOI officials said further. If the investors suspend their investments in Sri Lanka, the country would lose billions of US dollars in annual export earnings, they added.
Due to the rolling power interruptions, approximately 500,000 local workers are at risk of losing their jobs due to the closure of factories in free trade zones, the officials explained further.
Taking these into account, the Power Minister has directed the Ceylon Electricity Board not to interrupt the electricity supply for the factories in free trade zones under the BOI.
They further explained that if such power cuts occur on a daily basis, there is a risk that about 500,000 local workers will lose their direct jobs due to the closure of factories in the investment promotion zone.
