Sri Lanka, May 12 -- More than 10 billion rupees is currently withheld as penalties and performance-related recoveries from suppliers involved in the substandard coal controversy, and these funds could be utilised to offset losses caused to the State.

Speaking to the media yesterday, Deputy Energy Minister Arkam Ilyas stated that 18 coal shipments have arrived so far, with sixteen shipments provided by the initial supplier and two by the second.

Around 22 million US dollars has already been withheld as penalties, which amounts to nearly six billion rupees. Furthermore, a 15 million dollar performance bond remains in place. Altogether, the withheld amount exceeds 10 billion rupees, which can be used to recover the financial hit.

The iss...