Due to the huge debt owed to the CPC by the CEB, the Petroleum Corporation has been compelled to take out a bank loan at an interest rate of 6% per annum, in order to cover their essential
financial commitments, the CPC sources further added.
It is said that although the CPC had made several requests to the CEB to pay their dues, they had not received a favourable response from the CEB.
However, the CEB recently increased their employees’ wages by 10%. In addition, based on a collective agreement system the CEB employees are to receive another wage hike of 25% from January.
more>>>
http://www.srilankamirror.com/news/news-in-brief/5115-cpc-in-dire-predicament-due-to-ceb-debt
