CEB non-payments add fuel to fire in CPC financial crisis

CEB non-payments add fuel to fire in CPC financial crisis

CEB non-payments add fuel to fire in CPC financial crisis

Written by Staff Writer

29 Sep, 2017 | 8:57 am

The Ceylon Petroleum Corporation is facing a severe financial crisis owing to non payment by the Ceylon Electricity Board and other private electricity companies for the fuel procured by them.

Secretary to the Ministry of Petroleum Industries Upali Marasinghe stated that the said parties are evading payment.

He said that owing to this situation, the Petroleum Corporation has had to obtain loans in order to import petroleum.The Ministry of Petroleum Industries has advised the heads of the institutions to settle their payments expeditiously.

When News 1st made inquiries regarding this situation, Media Spokesperson for the Ministry of Power and Renewable Energy Sulakshana Jayawardena said that the Ceylon Electricity Board owes the Ceylon Petroleum Corporation Rs.35 billion  in payments.

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