CPC fuelling huge losses daily; Ministry

The Petroleum Resources Development Ministry yesterday said that Ceylon Petroleum Corporation had to incur an additional loss of Rs. 380 million a day since fuel prices are not being increased.

Ministry Secretary Upali Marasinghe said the loss has increased manifold now as CPC sheds sold more fuel now after the Lanka
IOC increased fuel prices recently.

He said it was not feasible to run the corporation due to the losses accumulating daily since 2015. He said the matter was brought to the notice of the Finance Ministry several times and he hoped the Finance Ministry would find a solution to this crisis soon.

Meanwhile, the sale of Diesel in CPC sheds has increased from 4500 metric tonnes 5500 MT and Petrol from 2500 MT to 3000 MT daily after Lanka IOC increased fuel prices recently. (Mahinda Nissanka)