No connection to chairman’s transactions: Litro Gas

Litro Gas Lanka Ltd said today it wished to assure all its stakeholders and the people that the company had no connection or knowledge of the alleged transactions in which it’s Chairman Shalila Moonesinghe is being implicated in, according to recent media reports.

The Litro Gas Lanka Ltd said in a statement:

"In our capacity as a state-owned entity, Litro Gas Lanka complies with the stringent regulatory framework expected of a business operation while adhering to a highly structured check-&-balance system of a corporate entity managed by a professional board-of-management.

From a business perspective Litro Gas Lanka is committed to conducting ethical business operations through serving the Sri Lankan consumers in providing a cost efficient and healthy fuel source whilst delivering excellent value to all our stakeholders. Litro Gas Lanka is one of the biggest state-owned contributors to the national economy through dividend payments during the past two years. In 2016, Litro Gas Lanka contributed Rs.8.43 billion to the Treasury. With the exception of investment required for business expansion, the bulk of the organization’s profits are made available towards nation-building efforts.

Litro Gas Lanka wishes to assure all stakeholders that national interests and obligations to the larger Sri Lankan society directs all organizational activities. Commitment to transparency and ethical corporate behaviour is of paramount importance to the organization.”