CPC could halt fuel on credit to SriLankan from Wednesday: Chairman

1 July 2018 09:02 pm - 10     - {{hitsCtrl.values.hits}}

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Ceylon Petroleum Corporation (CPC) will be compelled to stop issuing aviation fuel on credit to the national carrier SriLankan Airlines from Wednesday (4) if they don’t settle what is already owed, CPC Chairman Mr. Dammika Ranatunga said today.

Speaking to Daily Mirror, he said following a Cabinet decision last week, SriLankan had agreed to comply with the credit limit given.

SriLankan has to pay an outstanding of over Rs. 12 billion accrued over a period of three years to the CPC and will have to pay at least Rs. one billion of it before Wednesday’s deadline to prevent an interruption to supply of fuel.

Last week the Inland Revenue Department froze CPC’s bank accounts after it failed to pay the Value Added Tax (VAT) of Rs. 1.5 billion for the purchase of petroleum derivatives.

CPC has to collect unpaid dues amounting to around Rs. 70 billion, including Rs. 46 billion due to it from the Ceylon Electricity Board (CEB).

SriLankan officials said their flight operations would be disrupted and many flights would have to be cancelled if the CPC maintains its hardline stance on the matter.  

Transport and Civil Aviation Minister Nimal Siripala de Silva and Petroleum Resources Development Minister Arjuna Ranatunga are to meet and hope to come to a compromise after Tuesday’s Cabinet meeting. (Thilanka Kanakarathna)

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  Comments - 10

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  • Nadee Sunday, 01 July 2018 09:27 PM

    He is not aware how gvt institutions are functioning, He may create another issues after getting his brother Prasanna's advise. Arjuna only talks about cricket and CPC is preparing for its graveyard!!! GOOD GOVERNANCE AYYA MALO

    Arnold Sunday, 01 July 2018 09:52 PM

    Better to close down Sri Lankan airlines and save billions of hard earned tax payers' money.

    Katie Monday, 02 July 2018 11:45 AM

    Its not a matter of closing down the airline. Think of the number of employees who will loose their jobs? The administration needs a reshuffle and the Finance Division should have a proper Financial Controller. The Cabin Crew emoluments are deducted without any consideration, when it should be the other way around. The top management should take cuts on their emoluments and perks then this airline can raise its head.

    Andarai Sunday, 01 July 2018 09:53 PM

    The funny guy is going to stop the world.

    too bad Sunday, 01 July 2018 10:08 PM

    'Sri Lankan' will be compelled to refuse service to anyone who bought a ticket.

    Rizan Sunday, 01 July 2018 10:17 PM

    We thougt captain cool is Mr Clean but it seems he's corrupted than any other politicians

    observer Monday, 02 July 2018 01:53 AM

    What a wonderful country we live in !!.

    Uchikun Monday, 02 July 2018 03:27 AM

    A good example as to why all these loss making institutions need to be privatized. Sadly these loss making institution are run by labour unions and not by the management. Specially the CPC and CEB.

    Alice Monday, 02 July 2018 04:30 AM

    Another family living on the country. What are is credentials to hold that post to earn millions Arjuna's brother and that of other rogues

    Rohan Monday, 02 July 2018 04:19 PM

    This airline is a bad omen for the country.


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