The Electricity Consumers’ Association (ECA) has raised serious concerns over the Ceylon Electricity Board’s (CEB) gradual reduction of its 70% shareholding in Lanka Transformers Limited Holdings (LTL), calling for an immediate investigation into the matter.
Speaking to The Daily Morning, ECA General Secretary Sanjeewa Dhammika said the issue has drawn the attention of both the Parliamentary Sectoral Oversight Committee (SOC) on Infrastructure and Strategic Development and the Parliamentary Committee on Public Enterprises (COPE).
He urged that former Power and Energy Minister Kanchana Wijesekera and the current Trade, Commerce, and Food Security Minister Wasantha Samarasinghe, also a trade union leader, be summoned to explain their respective roles.
Dhammika alleged that during Wijesekera’s tenure, 28% of LTL shares were exchanged for debt, covering only Rs. 58 billion. “Why was this not sold competitively on the stock market? A public sale could have earned the Government over Rs. 100 billion,” he claimed.
He further accused Samarasinghe of withdrawing a case concerning LTL audits, saying the minister “knows everything from beginning to end” and must also appear before the COPE and SOC.
Highlighting LTL’s monopolistic position, Dhammika claimed the company maintained control over transformer production and sales without open tenders, allegedly with support from senior CEB officials. He called on the Auditor General to conduct a full audit covering all past years.
“The mismanagement at LTL has directly contributed to higher electricity bills, increased production costs for industries like garments, and a slowdown in the national economy,” Dhammika said.
He urged the Government to refer the matter to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and the Criminal Investigation Department (CID) for immediate action, including scrutiny of the personal assets and liabilities of senior LTL officials.
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