CPC refinery to become independent entity under new restructuring plan: Minister

Thursday, 27 June 2024 02:06 - - {{hitsCtrl.values.hits}}

Power and Energy Minister Kanchana Wijesekera yesterday announced that, as part of the Ceylon Petroleum Corporation (CPC) restructuring plan, the CPC-owned refinery will be established as a separate Government-owned and operated entity.

Talking to ‘X’ he noted that the move aims to attract and raise the necessary investments for enhancing fuel quality, improving efficiency and capacity and reducing costs.

He said the restructuring will also involve a revision of the CPC’s current approved cadre and salary structure.

The Minister said a discussion on the timeline and process for implementing the reforms took place with the senior management of CPC and refinery was held on Tuesday.