YESB to become corporation next year
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Yangon Electric City Supply Board (YESB) will be corporatised next year, said Vikram Kumar, resident representative of the International Finance Corporation (IFC).
The process should take a few months depending on the speed of the government’s decision, he said.
The IFC has been providing assistance to the YESB since March with technical advisers currently prioritising the transformation process while international financial experts inspect the utilities provider.
“The IFC will invest in YESB as a share holder when the YESB is transformed into an independent corporation. The government will hold more than 80 percent of the shares,” Kumar said in April.
Upon completion, the power supply should reach far more homes with increased stability, Kumar said.
Total power losses in the grid amount to 27 per cent and there would be an extra 100 megawatts available if 10 per cent of power losses could be cut.
About 30 per cent of the country’s total population has access to electricity. The IFC will increase its investment to more than US$1 billion within the next three years for the private sector development.
