Govt. permits to open 50 new LIOC filling stations

8 August 2022 03:04 pm Views - {{hitsCtrl.values.hits}} 13 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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The government has permitted opening of 50 new Lanka IOC (LIOC) filling stations across the country, Lanka IOC Managing Director Manoj Gupta said.

While expressing his gratitude to the Sri Lankan government, the MD said that they will release the detailed advertisement soon to educate the public.

While posting a Twitter message, Mr. Gupta said that the investment in tanks, distribution units, and other equipment will be provided by the LIOC while the land and infrastructure cost will be from the dealers' end. The required land area must be owned or leased by the applicant, the MD said. (Chaturanga Samarawickrama)

Comments - 13

suresh Monday, 08 August 2022 03:26 PM

better to outsource all the sheds to private companies. At least these guys are posting a profit, and hence tax collection for the govt. Unlike CPC which is posting huge loses year on year and still staff collect Rs.400M overtime

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ajith Monday, 08 August 2022 03:28 PM

Bring in more foreign distributors for better and efficient service. CPC are dead inefficient lot

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Johan Monday, 08 August 2022 03:31 PM

Since the mismanagement in LOC keep the fuel price very high to make profit, IOC is making huge profit.. iOC was making profit when petrol was even below 200ish

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Rohan Monday, 08 August 2022 05:09 PM

Why complain about companies making profits. They are not here to give handouts

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Prasath Monday, 08 August 2022 09:04 PM

Objective of any business is to make profit, making profit is actually good for the business as well as they pay more invone taxe to SL. its way better than the inefficient CPC which sucks the tax payers money. Give away all of CPC operated petrol sheds to private investors who will do a better job and never come after tax payers bail out.

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ZW Monday, 08 August 2022 06:33 PM

The government must get rid of all businesses that they do with state enterprises and carefully privatize under PPP's as the private sector in Sri Lanka has shown better results in profit and the services are even admirable. State should not involve in loss making businesses such as with CPC, Trains, Electricity, Airliners, Insurance as in many countries including Switzerland they are privatized and runs smoothly with massive profits. General public should understand that its only good for them if these entered in to PPP's as these institutes are well overloaded with excessive man power for nothing. If entire petroleum would be brought by some private companies, around USD 500 whining of the government would be saved every month. Benefit goes to the people to fill up as much as they want. Its a mistake that all governments pumped their people into public institutes rather than teaching them how to fish. I dont know why the general public is against this measure.

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Rishan Tuesday, 09 August 2022 08:22 AM

Better lease 200 sheds to shell or BP so that they will make profit while Ceypetco making a loss ....

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Russel Harmmer Tuesday, 09 August 2022 09:37 AM

Good move, but LIOC should reduce the prices of Fuel and have enough stocks always in their sheds to cater the public.

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M.K.D. Patrick Fernando Tuesday, 09 August 2022 09:40 AM

Welcome, yes now we could see, unlike Gota/Mahinda's ruthless Govt. squeezed the neck of the public and earned for their families with illegal income, now the scenario is changed the Hon. Ranil Wickramasinghe.

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Karalasingam Sivalingam Tuesday, 09 August 2022 10:35 AM

Welcome move. IOC Making profits due to efficient admin. CEYPETCO is a corrupt organisation with excess staff and political meddling. Award all CEYPETCO Sheds to IOC for better service.

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suriya Tuesday, 09 August 2022 01:20 PM

strange that people comment ignorantly- 1.Johan- If IOC is mismanaged, how come they posting 46B profits??? 2.Russel Hammer- prices are controlled by GOSL not decided by IOC. Both CPC and IOC sell fuel at the same price.

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Colin Tuesday, 09 August 2022 03:04 PM

We should also try and invite other Foreign oil companies to open outlets here so that IOC will not have a monoply and as an incentive lease out some oil tanks situated in Trinco to these companies to stock pile. Initially we could give them the facility to sell aviation fuel which is paid by the airlines in Foreign Currency so there will be no roadblock for them to get their profits out.By making such a move we will attract the airlines back to SL for aviation refuelling and thereby increase the numbers of tourist arrivals the sector that will bring in the dollars

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SLPetCo Friday, 12 August 2022 11:32 PM

Start another government company to compete. Other country create multiple government owned business all compete against each other, while having slim profits. Call the next one Sri Lanka Petroleum Corporation. Maybe Lankan's if same price go to new company instead to IOC. We consumers win.

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