If CPC does not receive govt. concession, increasing fuel price inevitable: Gammanpila

11 October 2021 03:42 pm - 16 - {{hitsCtrl.values.hits}}

A A A

If the Ceylon Petroleum Corporation (CPC) does not receive any concession from the government and unable to bear the loss, there will be no choice but to increase the fuel prices, Petroleum Minister Udaya Gammanpila said.

Addressing the media today, he said, "Considering the current situation, there is nothing to hide and I am not doing anything to hide it."

If the government is able to provide relief to the CPC and take a decision not to increase the fuel prices, then they should do it, Gammanpila said.

Minister Gammanpila said that he hopes to discuss with the Cabinet regarding the increase in fuel prices.

According to the world market fuel price, if Sri Lanka continue to sell fuel in the local market at the current price, the Ceylon Petroleum Corporation (CPC) will incur a huge loss during this month.

If the current loss becomes recurrent, the CPC, the government, and the total economy of the country will be unable to bear it, the Minister added.

Therefore, the minister requested the CPC Chairman to bring the current situation to the special attention of the Cabinet.

Meanwhile, CPC Chairman W.W.D. Sumith Wijesinghe said, currently, the Petroleum Corporation incurs a loss of Rs. 14.56 per litre of petrol.

“The loss incur on diesel stands at Rs. 31.46. If we continue this trend, we will incur a loss of Rs. 70 billion by October 31,” he said.

The only alternative that the Petroleum Corporation should do in such a situation, is to increase the fuel prices, Wijesinghe said.

Therefore, we draw the government's attention to the need of a price increase, he added. (Chaturanga Samarawickrama)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 16

C.V.Raman Monday, 11 October 2021 03:56 PM

If the "poor" Indians can pay 220 LKR for petrol, why not us?

N.M. Perera Monday, 11 October 2021 04:06 PM

Losses due to Hedging and CEB dues.....Why burden the Public.

Farieze Monday, 11 October 2021 04:08 PM

When the fuel reducing time past two years why you didn't reduce it. You came to power to eliminate poverty Now talking rubbish

joshua Monday, 11 October 2021 04:15 PM

Ask Nadesan for a long term loan without taxing the people everytime

Sinners Monday, 11 October 2021 04:17 PM

It means you are not in the government. Go ahead and increase the price. Surely you will get your fee supply.

Suresh Monday, 11 October 2021 04:36 PM

Thanks, we will try to do something

Chris Monday, 11 October 2021 04:43 PM

Mr. Gamaya, can you tell me what happened to the fuel fund? Big talk from the backside it seems.

Lanza Monday, 11 October 2021 04:44 PM

Not only should the prices be increased in keeping with the world market prices, the free issues of fuel to Parliamentarians and other Officials should be curtailed forthwith.

tom Monday, 11 October 2021 04:56 PM

People suffer, why SLPP Secretary not opposing,we hope this brilliant person won't let increase the prices

Sam Silva Monday, 11 October 2021 05:09 PM

Could you disclose how much the government spends to give free fuel to all politicians.

Nimal Monday, 11 October 2021 05:13 PM

Lanza will say that Basil will not allow any fuel hike under any circumstances.

Priyantha77 Monday, 11 October 2021 05:33 PM

Why we keep this inefficient and corrupted CPC. Liberalize the petroleum sector for competition. We can get better prices and no burden to country

Patriotic citizen 66 Monday, 11 October 2021 05:36 PM

Government support means all people of this country should pay for CPC losses. Why ?

Sambo Monday, 11 October 2021 06:33 PM

So now every one is trying to raise their cloth to the public. If so the president should consider if cabinet ministers are required or not.

Political Tunes Tuesday, 12 October 2021 10:31 PM

One country, one Nation, one cabinet, one government. Why is the government being referred to as ‘they’ by a cabinet minister? One failure!

GHT Tuesday, 12 October 2021 10:54 PM

The report of the minister shows; the fuel increase rate has already been set.

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

If CPC does not receive govt. concession, increasing fuel price inevitable: Gammanpila

Comments - 16

Add comment

RECOMMENDED

Religion: Not for public debate

Driving into Colombo’s money spinning car parks!

The runaway prophet?

Veil of uncertainty covering naked truth behind death of schoolgirl

Unwanted attention

Lurking predators make some temples unsafe for novice monks

Reforming abortion law in Sri Lanka

Most Viewed in News

It was not Dinesh who caused delay for Ajahn Brahm Thera at BIA but Nimal Siripala de Silva

Professionals from 14 categories required to register with IRD from today

Sweden registers sex as sport-- Will host first-ever European sex championship ?

Several arrested for smashing Green Lanka building in Nawam Mawatha

BIA bumps Ven. Ajahn Brahmawanso Thera from Bangkok flight to make way for Dinesh

PCB refuses to play ODI series in Lanka after SLC’s proposal to host all Asia Cup matches: Report

TODAY'S HEADLINES

Graphic of the day

Millennium City Case against ASP Kulasiri Udugampola fixed for defence evidence

Select committee to look into economic crisis Terms of Reference to be changed

Unruly air passenger incidents on the rise: IATA

MIRROR CRICKET

Afghanistan Fined 20% Match Fee for Slow Over-Rate in First ODI vs Sri Lanka

England spinner Leach ruled out of Ashes

Sri Lanka square ODI series with 132 run win over Afghanistan

Top order runs, middle order cameos take Sri Lanka to 323 for 6 in second Afghanistan ODI

Return to ODI cricket must be causing Rashid Khan mental fatigue, Afghan commentator says

Sri Lanka win gold in 4x400m Mixed Relay at Asian Junior Athletics Championships

Gold for Sri Lanka at Asian Junior Athletics C’ships, Tharushi Dissanayake wins girls’ 800m

Zlatan Ibrahimovic retires: Swedish great ends football career at 41