CPC owed Rs. 154 billion by multiple State institutions

Thursday, 23 January 2020 02:29 - - {{hitsCtrl.values.hits}}

The Ceylon Petroleum Corporation (CEYPETCO) has notified the Power and Energy Ministry that it is owed a staggering Rs. 154 billion by a number of State organisations, including the Ceylon Electricity Board (CEB), SriLankan Airlines and the Sri Lanka Transportation Board (SLTB).

According to a statement issued by the Ministry yesterday, the senior management of CEYPETCO has submitted a report to Minister Mahinda Amaraweera on pending payments for fuel supplied in the previous year.

While the Minister had assured that necessary measures would be taken for payments to be made, CEYPETCO’s senior management had raised concerns that it would be a loss-making entity if these pending payments were not made.

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