Secret Coal Agreements with Same Companies Linked to ‘Rajapaksa Sons’ – Champika Ranawaka

25-Feb-2026

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United Republic Front leader Patali Champika Ranawaka alleged that the present administration led by President Anura Kumara Dissanayake is engaging in secret coal procurement agreements with the same companies it once criticized as being linked to relatives of the Rajapaksa family.

Addressing a press conference on February 23, he stated that the company formerly known as Black Sand, involved in coal imports since 2022, has now been renamed Potensia.

He claimed that although the present government had previously described the company as corrupt and linked to former rulers’ children, it has now procured 15 coal shipmentsfrom the same entity.

He further stated that following negotiations with the parent company in Russia, five shipments were expected, but three were cancelled and only two accepted. He questioned the nature of the agreement behind this development and described it as organized corruption.

According to Ranawaka, the Ceylon Electricity Board has suffered significant losses. Up to the eighth shipment, losses amounted to Rs. 7.67 billion, with approximately Rs. 1 billion lost from the ninth shipment alone. On average, each shipment reportedly results in a loss of around Rs. 900 million.

Despite global coal prices falling from USD 400 per metric ton to USD 80, he alleged that the benefit was not passed to the public and instead profits were directed toward distributors.

He warned that if the government attempts to shift these losses to the public through electricity tariff hikes from April 1, they would mobilize 7.5 million electricity consumers in protest.