New regulatory body for CPC in the offing: Kanchana

5 October 2023 02:25 pm Views - {{hitsCtrl.values.hits}} 10 Bookmark

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Discussions are underway to set up a regulatory body for the Ceylon Petroleum Corporation (CPC), which will function as a price regulator, Power and Energy Minister Kanchana Wijesekara said today.

The Minister told Parliament that price regulations are currently done by the Power and Energy Ministry and said both price regulation and distribution had been done by the CPC earlier.

He said a separate regulatory body is important as there will be more competition with the new players entering the market.

The Minister said the Public Utility Commission of Sri Lanka (PUCSL) is tasked to regulate the power sector while the new regulatory body will be tasked to regulate the energy sector.(Ajith Siriwardana and Yohan Perera)

Comments - 10

Ah Thursday, 05 October 2023 02:55 PM

Yes minister try to monitor the pricing. Now no more worries for you to find exchange for fuel imports. So you will have ample time to regulate pricing. You are doing a good job please continue to do so and not allow the new suppliers to make superfluous profits. We count on every rupee before spend

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Mithun Thursday, 05 October 2023 03:48 PM

Yes he is doing the perfect job to demolish CPC. In a competitive market everyone should have the pricing authority. Sinopec deciding their own but the Ministry is deciding CPC prices. Then how there will be competitive market? Now petrol price of Sinopec is 7 rupees less than the CPC.

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Ram Thursday, 05 October 2023 03:03 PM

New Regulatory body will be a set of unemployed political appointees that will drain the CPC money further

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joshua Thursday, 05 October 2023 04:21 PM

What a waste of money? More and more for the power sector? Private sector does not strategize like this....

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sam Thursday, 05 October 2023 04:25 PM

What is going on. Body on top of another for what purpose. If CPC has no suitable persons bring in new blood.

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Tissa Fernando Thursday, 05 October 2023 06:19 PM

That means another set of beauracrats getting paid fat salaries and posh offices with other benefits.

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Karalasingam Sivalingam Thursday, 05 October 2023 06:53 PM

Today we are reverting back to pre-nationalisation era, where, Shell Company and Caltex, maintained, supplied and distributed fuel without any disruption, with a steady pricing system. In all nationalisation was a curse of this country, which paved the way for corruption and political interference, politicians were facilitated to give employment to their stooges in the CEYPETCO.

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Cugan Thursday, 05 October 2023 06:54 PM

Who are the competitors only two they will fix the price as and when they are bringing in on their own money,here they comes to make profit good opportunity thats all.given free hand

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Patcitz Friday, 06 October 2023 12:54 PM

We became IMF, a puppet of the US, a slave to sell our country to INDIA trespassing Sri Lanka helping with its earlier tactics in making the mission a success.

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SLEx Friday, 06 October 2023 01:59 PM

So many ignorant commenters. There are going to be 4 companies. CPC, LIOC, Sinopec and Shell. CPC has no reason to distribute fuel when they can make more profit for the government just handling distributions for all other companies. Good for brining an authority. There is no reason for a full SOE to be doing business with consumers especially when they cant even do it efficiently.

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