The report of the independent committee appointed by the Power and Renewable Energy Minister to study coal procurement for the Lak Vijaya coal power plant at Norochcholai has concluded that the total amount paid for the long term and spot tenders last year had resulted in a financial gain to the Government.

Power and Energy Minister Ranjith Siyambalapitiya tabling the report in Parliament said the expert committee had stated a mix of procurement through long-term and spot tenders was a credible and profitable formula for coal purchases.

The expert committee chaired by Prof. K.K.Y.W. Perera included Prof. Lakshman R. Watawala and Prof. Janaka B. Ekanayaka and it submitted the report to the Minister on August 1.

The minister said the Committee report reaffirmed the controversial coal procurement procedure had resulted in a profit to the CEB and the country.