Government has no plans to sell CPC: Arjuna Ranatunga


The government has by no means resolved to sell the Ceylon Petroleum Corporation (CPC), Ports and Shipping Minister Arjuna Ranatunga said today.

The Minister said this in Parliament, in response to a question raised by Joint Opposition Leader Dinesh Gunewardena.

He said that the CPC is an establishment that provides a favourable contribution to the country’s economic growth.

“In addition to this, it is the main arm which ensures country’s sustainable energy and so it is not only my personal responsibility, but it is also the government’s and the nation’s responsibility to strengthen the CPC,” the Minister said.

Furthermore the Minister emphasized that the government has not yet taken a stand to increase fuel prices.

Evaluating on the fuel prices, Minister Ranatunga said that the government has reduced fuel prices in significant amounts since January 22, 2015 to date.

He said, “92 Octane Petrol price was reduced from Rs. 150 to Rs. 117 in January 22, 2015 and 95 Octane Petrol price was reduced from Rs. 158 to Rs. 128”.

“Auto Diesel was reduced from Rs. 111 to Rs. 95, Super Diesel was reduced from Rs.133 to Rs. 110 and Kerosene oil price was reduced from Rs. 81 to Rs.44”, the Minister said.

He said that he would submit a report on the loss incurred by the CPC due to these reductions, soon.

However the Minister said that discussions are underway to formulate a system, which complies with the international market, to arrive at local prices for fuel.  

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