State utility firms running huge losses
State utility firms are operating at a loss, a parliamentary committee has heard, with one power company’s debt standing at around MVR1.6 billion (US$103 million).

05 Oct 2017, 9:00 AM
State utility firms are operating at a loss, a parliamentary committee has heard, with one power company’s debt standing at around MVR1.6 billion (US$103 million).
Environment and energy minister Thoriq Ibrahim, as well as utility company bosses, were summoned to a government oversight committee session on Wednesday to answer questions on unequal prices between the capital and outer islands.
People from the islands has been complaining about higher electricity prices and discrimination since last year, when the government cut electricity subsidies and revised tariffs.
The minister and utility bosses, presenting a united front, told the committee that the operating costs for providing the services to remote islands exceeded the income gained from these places, resulting in huge losses for all companies.
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