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Government takes Shell

17 June 2010 06:05 am - 33     - {{hitsCtrl.values.hits}}

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The cabinet has approved purchasing 51% of shares of Shell Gas through negotiations, the government information department quoted Media Minister Keheliya Rambukwella as saying.


 

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  Comments - 33

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  • Thursday, 17 June 2010 08:20 AM

    And some of us still use firewood!

    Thursday, 17 June 2010 06:07 AM

    Grab it! Go for it man!

    Thursday, 17 June 2010 06:09 AM

    Good Move. hope we can get Shell GAS for a moderate price.

    Thursday, 17 June 2010 06:18 AM

    Gas prices will go up, people will have to use firewood again

    Thursday, 17 June 2010 06:19 AM

    And then? Smell a rat?

    Thursday, 17 June 2010 06:21 AM

    I'm being sarcastic. ( for those who might miss the point)

    Thursday, 17 June 2010 06:24 AM

    Colossal loss of public funds such as air Lanka, Mihin Air,Sri Lanka Telecom,CPC,Railway and CTB etc. As a result in future :no medicine for poor, public facilities heavily suffer due to lack of funds,no jobs for youth as no investment and heavy government debts etc. Wait and see. Due to political interferences ,inefficiency,corruption and bribery future Shell gas will eat public wealth heavily.

    Thursday, 17 June 2010 06:24 AM

    What negotiations with such multinational vultures? just Kick them off our land

    Thursday, 17 June 2010 06:24 AM

    Good Move, go for it..

    Thursday, 17 June 2010 06:25 AM

    Good move!!! Hope the consumers will benefit. But hope this dosnt adversely impact the budget deficit.

    Thursday, 17 June 2010 06:28 AM

    shell... new state sector loss making organisation

    Thursday, 17 June 2010 06:29 AM

    Good move! There will be one more company to sell when UNP come in to power in future.

    Thursday, 17 June 2010 09:27 AM

    WILL THE PEOPLE HAVE THE BENEFIT.
    Would be like CEYTO???????????????
    Where price rises anounced over night over Radio/TV

    Thursday, 17 June 2010 06:29 AM

    Why should the foreigner steal our money, our Ministers can sweao by making a government organisation

    Thursday, 17 June 2010 06:31 AM

    Good move. Gas is one of the essential item that should have been under the control of government. However make sure that "shell" does not go to "hell" under the state control as what has happened to petrolium industry today.

    Thursday, 17 June 2010 06:31 AM

    Well done. Now shell undercontrol !! Not only Shell but also Laufgs

    Thursday, 17 June 2010 09:31 AM

    is that the reason why mr. Obama took over General Motors?

    Thursday, 17 June 2010 06:33 AM

    Why should the Media minister address this issue. Can't the minister in-charge for Fuel etc etc talk about this ? or is it that he has no clue about this matter ?

    Thursday, 17 June 2010 09:44 AM

    What is the cost, how is it to be financed, is it with funds taken on high interest then the price of shell gas will increase monthly

    Thursday, 17 June 2010 09:45 AM

    Ok, govt may control or subsidise the price of shell gas which is good from consumer's perspective But from business perspective no good, as Company could suffer losses due to subsidisation and above all, the employment of ineffcient govt staff will make it worse.Now share price shell will suffer a lot.

    Thursday, 17 June 2010 07:17 AM

    i agree like petrol

    Thursday, 17 June 2010 07:20 AM

    Price will come down during Election

    Thursday, 17 June 2010 07:29 AM

    I am sorry about the mind of our people, their mind is limited to our boarder, But we have to think more advance and globally.
    Government should not do and not able to do Business. Very soon that will become another money killer like CEB, CPC etc. Non of the manufacture’s body belonging to government has not shown profit. But Politician can make good monies as far as it does belong to them. Poor workers EPF monies wasted for their personal gain.
    Sorry about our peoples mind. Keep this comment and read after 3 yeas.

    Thursday, 17 June 2010 07:32 AM

    Only wise Comment so far.

    Thursday, 17 June 2010 07:33 AM

    Now the Govt has taken over Shell gas, from now on, they cannot blame shell gas for the price increase, they can even subsidise the gas prices.

    Thursday, 17 June 2010 07:36 AM

    To show more Gas to us ?

    Thursday, 17 June 2010 07:38 AM

    Goverment or Family

    Thursday, 17 June 2010 07:44 AM

    Can we expect a subsidise price or higher price now???

    Thursday, 17 June 2010 07:52 AM

    100% Agreed. Always Business should be done by Private sector. Good to sell this back to Sri Lankan Businessman. Pls. Govt may spoil Shell as well.

    Thursday, 17 June 2010 07:53 AM

    HAVE TO THINK ABOUT THIS!!!!!!!!!!!!!!

    Thursday, 17 June 2010 07:58 AM

    It is stupid for the cabinet to approve a purchase without knowing a price. These are the jokers who have been elected and blindly nod their heads for anything asked of them at these meetings. Once a price range has been decided and the economics behind it justified, then take a vote on it. Numbskulls!

    Thursday, 17 June 2010 08:04 AM

    Yes !! But not in near future !!

    Thursday, 17 June 2010 08:05 AM

    Almost all major government run Corporations are making huge losses. They are a huge burden on the Treasury.
    This decision may inflate our national ego, but it cannot be considered a financially sound one. The reason is the Government lacks the capacity to run businesses in a profitable manner.


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