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President Mahinda Rajapaksa yesterday announced that electricity tariff would be reduced by 25 per cent with immediate effect. He also declared that prices of diesel, petrol and kerosene would be reduced by Rs. 3, Rs. 5 and Rs. 20 respectively from midnight.

The announcement was made by President Rajapaksa following the inauguration of the third phase of the Chinese-built Norochcholai Lakvijaya coal-fired power plant.

President Rajapaksa and Chinese President XI Jinping commissioned the project at an event held at the Presidential Secretariat.

Appreciating the continuous support provided by the People Republic of China to Sri Lanka over the past several decades, President Rajapaksa said: "The commissioning of second and third phases of the Norochcholai power project will bring down the cost of electricity in our country. I am happy to announce that this year all households in Sri Lanka will have electricity and this project will ensure a quality supply of electricity to all my people."

Turning towards the Chinese leader, President Rajapaksa said he was grateful to China for assistance which had enabled him to realise a pledge given to his people.

Referring to a series of agreements finalised earlier in the day, President said that the elevation of bilateral ties bwtween the two countries to that of a Strategic Cooperative Partnership would

made a positive contribution to the advancement of relations.

The agreements are: 1 Plan of action to deepen the Strategic Cooperative Partnership, treaty on mutual legal assistance in criminal matters, MoU on launching

negotiations for a China - Sri Lanka Free Trade Agreement, agreement on Economic and Technical Cooperation, exchange of letters for the outpatient building for the National Hospital, exchange of letters for medical and teaching equipment, framework agreement on provision of concessional loan by China for Hambantota Hub Development Project, framework agreement on provision of concessional loan by China for extension of the Southern Expressway, Section 4 from Mattala to Hambantota via Andarawewa Project, MOU on the technical cooperation for the Norochcholai coal fired project, MOU on China - Sri Lanka Coastal and Marine Joint Research and Development Center, agreement on the Establishment of Confucius Institute at University of Colombo

*Agreement on Cooperation between the State Administration of Press, Publication, Radio, Film and Television of China and the Ministry of Culture and the Arts of Sri Lanka

*Agreement of Cooperation Between the Chinese Academy of Sciences and The Ministry of Higher Education of Sri Lanka

*MOU Between the Ministry of Technology and Research of the Democratic Socialist Republic of Sri Lanka and the Ministry of Science and Technology of the

People’s Republic of China on Science, Technology and Innovation Co-operation

*MOU between the General Administration of Quality Supervision Inspection and Quarantine of China and the Ministry of Agriculture of Sri Lanka on Cooperation of Plant Inspection and Quarantine

*MOU between the General Administration of Customs of the People’s Republic of China and Sri Lanka Customs of the Democratic Socialist Republic of Sri Lanka on Strategic Cooperation

*Preferential Buyer Credit Loan Agreement on the Construction of Outer Circular Highway Project Phase III

*Government Concessional Loan Agreement on Hambantota Hub Development Project

*Government Concessional Loan Agreement on Construction of Extension of the Southern Expressway, Section 4 from Mattala to Hambantota via Andarawewa Project

*Framework Agreement on Financing Cooperation in the Priority Economic Sectors of Sri Lanka

*Term Sheet Agreement of Colombo Port City Development Project Phase I

*Agreement between the Government of Sri Lanka and CHEC Port City Colombo (Pvt.) Limited

*Agreement on Key Terms for Supply Operate and Transfer (SOT) of Container Terminal Hambantota Port Development Project – Phase II

*Memorandum of Understanding between CEB and CMEC for Overhaul, Spare Parts Supply and Operation and Maintenance Cooperation for LakVijaya Power Station

*Framework Agreement between the Democratic Socialist Republic of Sri Lanka and China Merchants Holdings (International) Company Ltd., on the Development of International Maritime Centre in Sri Lanka

* Exchange of Swap Agreement between the People’s Bank of China and the Central Bank of Sri Lanka

* Exchange of Memorandum of Understanding on Financial Cooperation between the People’s Bank of China and the Central Bank of Sri Lanka



by Shamindra Ferdinando
island.lk

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