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CPC fuelling huge losses daily; Ministry

10 April 2018 03:01 am - 4     - {{hitsCtrl.values.hits}}


The Petroleum Resources Development Ministry yesterday said that Ceylon Petroleum Corporation had to incur an additional loss of Rs. 380 million a day since fuel prices are not being increased.

Ministry Secretary Upali Marasinghe said the loss has increased manifold now as CPC sheds sold more fuel now after the Lanka IOC increased fuel prices recently.

He said it was not feasible to run the corporation due to the losses accumulating daily since 2015. He said the matter was brought to the notice of the Finance Ministry several times and he hoped the Finance Ministry would find a solution to this crisis soon.

Meanwhile, the sale of Diesel in CPC sheds has increased from 4500 metric tonnes 5500 MT and Petrol from 2500 MT to 3000 MT daily after Lanka IOC increased fuel prices recently. (Mahinda Nissanka)

  Comments - 4

  • deshan.048518 Tuesday, 10 April 2018 08:09 AM

    Okay...When they were making profits why couldn't they publish their profits like this?????

    Unchikun Tuesday, 10 April 2018 08:30 AM

    Listening to program where the new taxation is being discussed. There is a lot of new direct tax being introduced. Why not the government remove the huge take on petroleum products and bring the prices down. Yes, we need to buy super luxury cars for our ministers and MPs. It is a disgrace to see the cars being shown on TV when these Ministers and MP do for meeting. The type third world county.

    Jo advani Tuesday, 10 April 2018 08:35 AM

    Those who rob their country should be given the same punishment as in Cuba!

    Rasheed Tuesday, 10 April 2018 10:53 AM

    Price hike on the card

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