CPC not incurring losses: Minister

21 June 2013 01:43 pm - 6     - {{hitsCtrl.values.hits}}


The Jathika Sevaka Sangamaya (JSS) said today that the Ceylon Petroleum Corporation (CPC) was incurring more heavy losses in billions of rupees after reopening the Sapugaskanda Oil Refinery.

Sapugaskanda Oil Refinery had been shut down for almost two weeks until the reopening on May 28.

The JSS President Ananda Palitha said the output of the refinery had also reduced by 50 per cent from the output obtained before the shutting down of the refinery.

Rejecting the allegation minister Anura Priyadarshana Yapa  said despite the low output levels, the CPC was not incurring heavy losses as alleged and said the action had been taken to streamline the output at the refinery.  

“The main reason for the low output is the delay in renovating the Sapugaskanda Oil Refinery. We have decided to renovate the refinery so as to produce an increased output,” he said.

The minister said they were now using an Oman and Abudhabi blend though the refinery was adapted to use Iran crude and added that using different blends might have also reduced the output.

The JSS had alleged the management was responsible for these losses.

The minister said this was no so because the management was constantly inspecting the refinery and that the refinery would be renovated to a proper standard soon. (Pradeep Chaturanga and Lahiru Pothmulla)

  Comments - 6

  • Cobra Saturday, 22 June 2013 01:21 AM

    Denial is the name of the game for our ministerial worthies!

    KSA Sunday, 23 June 2013 02:37 AM

    Could we expect a revised reduction in the price of fuel since they aren't making any losses now?? :P

    Nodrog Saturday, 22 June 2013 02:28 AM

    As long as political appointees and not qualified people are in charge none of the govt ventures will generate any profits.

    Critic Roshan Saturday, 22 June 2013 02:56 PM

    No problem the government will impose more taxes from the ordinary Citizens of Sri Lanka instead.

    Muthu Friday, 21 June 2013 10:38 PM

    What did the Management do when a former fast bowler was making crooked hedging deals causing millions worth losses.

    Calistus Jayatilleke Saturday, 22 June 2013 06:08 AM

    Denial of everything which is unfavourable to them is the name of the game.

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