No fuel shortage till next April: CPC Chairman

1 October 2024 08:59 pm Views - {{hitsCtrl.values.hits}} 4 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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Colombo, October 1 (Daily Mirror) - There will be no shortage of fuel till next April, as the Ceylon Petroleum Corporation (CPC) has planned and placed all necessary orders for fuel, Ceylon Petroleum Corporation Chairman D.J. Karunarathne said.

Addressing the media, he said that future plans to maintain sufficient fuel stocks will be scheduled on a weekly basis.

"The CPC is aiming to develop the refinery sector for a more efficient fuel supply. The recent fuel price revision was carried out according to the existing price formula, and the CPC plans to improve the formula to provide more concessions to the public," he said.

The Chairman also mentioned that he hopes to hand over the regulatory commission to ensure that decisions on fuel price revisions are made more transparently.

He said that having a fuel price revision is important.

"We cannot reduce fuel prices for stocks imported by other parties, and it is not feasible to offer large fuel concessions in a short period after the new government has come to power. The recent fuel price revision was done according to the existing formula and legal framework," he said.

The Chairman further added that the President is not willing to grant large concessions at once, which could lead to the forming of queues.

Comments - 4

saman Tuesday, 01 October 2024 09:24 PM

Dear Chairman, prepare a feasibility study and request for a long term loan at concessionary rate from the World Bank to upgrade the existing refinery or to set up a new refinery. If you approach Saudi Aramco and give them the job to set it up on BOT basis, the Saudi Development Fund may finance us. We can remember President Anura Kumara telling the people at a meeting that Mahinda Rajapaksa put the Hambantota Port before the refinery because money spoke. We came down to SL and voted for NPP and Anura Kumara since we wanted people with no hidden agenda running the country. No corruption and no thief's. We hope the people who didn't vote for Anura will open their eyes and vote for a strong NPP government on 14/11. We are coming back to SL on 13/11 to vote for NPP.

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Dayan Kodagama Tuesday, 01 October 2024 09:26 PM

Fuel prices were revised based on an estimation by the Ceylon Petroleum Corporation (CPC) and not per the fuel price formula, Government Spokesman Minister Vijitha Herath said.

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Yohan Tuesday, 01 October 2024 10:22 PM

But hichchi abey says it was based on that formula. Lol

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Indika Tuesday, 01 October 2024 10:26 PM

The bottom line is that Kanchana had done an excellent job and taken care of the medium term fuel requirements. He has also left the CPC in very good shape, compared to the utter mess it had been in for years.

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