Written by Staff Writer
08 May, 2015 | 1:31 pm
The Ministry of Power and Energy says that it is in discussions with the treasury in-order to formulate a solution which provide some sort of relief to the Ceylon Petroleum Corporation (CPC) and Lanka IOC .
CPC and Lanka IOC had requested permission from the ministry to increase the prices of fuel, inorder to curb the losses that they are said to be suffering from.
Secretary to the ministry Suren Batagoda noted that Lanka IOC had made similar requests on a number or previous occasions as well. He added that discussion with the treasury to provide relief to these organisations are centered around reducing the taxes imposed on fuel.
However, Batagoda noted that as the CPC’s currently losses stands at 4 Billion rupees adding that their financial footing will enable them to bear further losses before reaching a critical point.
Meanwhile, issuing a communique Finance Minister Ravi Karunanayke noted that permission will not be granted to increase the prices of fuel. The minister’s communique further notes that as a people centric government, the current administration would always consider issues from the public’s side.
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