The price of coal in the world market is nearly 50 dollars per ton, as the price is going down with coal being taken out of use globally.

Sri Lanka last bought coal in September at 51.29 dollars per ton.

In calling for tenders for next year, bids at high prices were received, which prompted authorities to call for tenders again.

A tender has been given to a company after cabinet approval to cabinet paper 30/2015/PE, which says the price in the first phase of supply will be 51.96 dollars per ton, at a loss of 0.67 dollars per ton.

For 396,000 tons, the country will lose Rs. 38 million (at Rs .143 per dollar).

In the second phase of supply, until September 2016, approval is granted to supply at 58 dollars per ton. For 2,304,000 tons, the country loses Rs. 2,210,757,120.

In April tenders were called, and there were eight bidders and four were shortlisted, but two were added after they reapplied with their tenders corrected.

Bids were opened in June and presented to the cabinet appointed procurement committee.

The lowest bid was made by Nobel Resources International, but Singapore Overseas was awarded the tender in breach of regulations by bringing down its bid.

This is clearly illegal, and the four others made appeals, but to no avail, with even the ministry secretary saying firmly that there was no need to consider the appeals.

However, even at this lowest price, it is higher than the world market price.

During the previous regime, coal was imported at high prices by businessmen friendly with the Rajapaksa regime, who earned billions.

Even under the present good governance regime, the same thing is happening, with the only difference being a change of the supplier.