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Sri Lanka looks at National Energy Sources, Strategies Roadmap for 10 years.

Sri Lanka looks at National Energy Sources, Strategies Roadmap for 10 years.

Daily FT: The Cabinet of Ministers at a meeting recently has approved the implementation of the National Energy Sources, Strategies Roadmap for the next 10 years.
The roadmap also includes the recommendations and milestones related to the energy sector report compiled by many stakeholders and Government decisions.
On 30 August last year, a Cabinet Sub-Committee was appointed under the chairmanship of the Prime Minister, to identify policies and strategies to be followed for sustainable development of the energy sector and to make appropriate recommendations to the Cabinet of Ministers.
It also aimed to provide necessary guidance and monitoring for the efficient implementation of the decisions reached by the Cabinet of Ministers based on those recommendations.
“After conducting several meetings with relevant stakeholders, professionals and experts the said Sub-Committee has submitted its report,” Cabinet Co-Spokesman Bandula Gunawardena said at the post-Cabinet meeting media briefing.
He said that given the energy crisis in Sri Lanka, a long-term energy strategy was critical in going forward.
The proposal to this effect, submitted by Prime Minister Dinesh Gunawardena was approved by the Cabinet of Ministers.

OSL take:

Sri Lanka’s power and energy sectors have become two fast expanding areas presenting a host of new business/investment opportunities. The ongoing crises in the power and energy sectors have further boosted the expanding opportunities in these sectors. The government of Sri Lanka is also promoting business/investment opportunities in these two sectors through the promotion of renewable energy generation and the opening up of the local lubricant market while moving forward with the oil exploration programme. With Sri Lanka working towards becoming an emerging business destination in the South Asian region supported by the country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country, the business/investment opportunities are in the country continue to expand. Given the growing business potential in the country, foreign businesses/investors could confidently explore the expanding opportunities in Sri Lanka.

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Article Code : VBS/AT/25012023/X_4

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