Harry J to resign?

14 January 2012 02:34 am - 18 - {{hitsCtrl.values.hits}}

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Speculation is rife that Ceylon Petroleum Corporation (CPC) Chairman Harry Jayawardane is to resign from his post today following a fresh dispute that arose with Petroleum Minister Susil Premajayantha over the supply of fuel to the Ceylon Electricity Board(CEB), informed sources said yesterday.

It is learnt that the Minister has been angered by a recent decision taken by Mr. Jayawardane in the supply of fuel to the CEB for power generation through the Kerawalapitiya plant.

As a result, the Minister has reportedly complained to President Mahinda Rajapaksa against the CPC chairman. Also, at a meeting with trade union leaders yesterday, Mr. Premajayantha said that there would be changes in the top posts of the CPC very soon.

The CPC has been run at a loss for years. Its total losses had accumulated to Rs.27.21 billion by the middle of the last year. Corruption, mismanagement, overstaffing have been cited as the reasons for such losses. Besides, the CPC provides fuel to various state institutions at a subsidised rate, and it too has added to the total losses of the institution.

The CPC also incurred heavy losses due to the import of 20,000 tonns of petrol of inferior quality last year through the involvement of some top officials of the Ministry. The institution is still in the process of paying compensations to the owners of vehicles damaged due to the use of such substandard petrol. Equipment at filling stations was also damaged after the use of petrol from this stock.

(Kelum Bandara)

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Comments - 18

Yours Sri Lankan Saturday, 14 January 2012 04:25 PM

What standards are those.....1970s...Consolidated Exports???

Nodrog Sunday, 15 January 2012 04:23 AM

Harry is used to bull-dozing his way which unfortunately he cannot do with the minister, hence the resignation.

kd Sunday, 15 January 2012 12:54 AM

Harry J has proven beyond question his integrity and usefulness to the country many times over. What ever decision he makes as chairman of any board would most certainly be for the good of such an organization and the country as a whole. He has no interest in short term gain (e.g. votes, money or pandering to a minister's ego). If people want the country to succeed then we should be in full support of actions taken by such people as Harry J and ask the minister concerned to show cause for his actions. It will be a loss to the CPC if Harry J resigns. But, there will be no loss to Harry J.

Siripala Sunday, 15 January 2012 12:07 AM

The CEYPETCO is more corrupt and inefficient and inept and wasteful than the CEB - they make good bed fellows.

mike Saturday, 14 January 2012 10:18 PM

Mr.Jayawardena,these ministers don't understand the value of resourceful managers.they need people who dance according their tunes,but not the people who wants to upgrade the institution.

koko jumbo Saturday, 14 January 2012 07:18 PM

WE know you as a successful leader ...
hard with this gang !

varuna Saturday, 14 January 2012 06:47 PM

those companies are not just buying, refining and selling energy but they are oil mining companies too that's why they make profits.

sham Saturday, 14 January 2012 06:28 PM

Harry has his own business empire to take care of....he doesnt have time to play with all these government jerks...

Kenny G Saturday, 14 January 2012 05:27 PM

I have heard stories about this guy and how he re built Srilankan Airlines. people over there have great respect towards this man.

Loving Sri Lankan Saturday, 14 January 2012 06:25 AM

Minister Premajayanth don't let him walk Scot-free. It will look like you had a cut otherwise....

Yours Sri Lankan Saturday, 14 January 2012 04:24 PM

why not you make him the king of this paradise at the next presidential election...good idea...hea

Amila.G Saturday, 14 January 2012 02:20 PM

Mr. Jayawardena you will never learn, this is the second time First ,Sri Lankan air lines now Petroleum are you short of cash or prestige. I think you have both.

Nodrog Saturday, 14 January 2012 02:12 PM

Don't understand why there should be a person in-charge of a corporation if the Minister interferes in everything. If Harry was incapable then why was he appointed in the first place?

Amila.G Saturday, 14 January 2012 02:12 PM

Mr. J Don`t dilute your reputation on good governence by taking up state run organizations to satisfy the top.You know you can not do business with politics or for that matter run a organization with political interfierence.

kp Saturday, 14 January 2012 01:28 PM

political interference can ruin the best of companies...

prem Saturday, 14 January 2012 12:27 PM

Mr Jayawardena it is not easy for you to work with this type of ministers and maintain your standards

Kolomba Kaka Saturday, 14 January 2012 07:50 AM

Most welcome and let us hope for a corrupt free replacement.

Luck Saturday, 14 January 2012 07:21 AM

May be he is tired of working for this corrupted organization which is bound to make losses forever. If you look at fortune top 10 global companies, 07 of them are energy & power based operators. It's very surprising to see that energy & power based businesses are running at loss here in Sri Lanka.

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Harry J to resign?

Comments - 18

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