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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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CPC guzzles Rs. 631 b in debt for fuel EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

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» SEYB.N0000 (Seylan Bank PLC)
CPC guzzles Rs. 631 b in debt for fuel EmptyThu Mar 30, 2023 9:25 am by yellow knife

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CPC guzzles Rs. 631 b in debt for fuel EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
CPC guzzles Rs. 631 b in debt for fuel EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
CPC guzzles Rs. 631 b in debt for fuel EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
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» NTB.N0000 (Nations Trust Bank PLC)
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CPC guzzles Rs. 631 b in debt for fuel EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyTue Feb 14, 2023 3:54 pm by ruwan326

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» SAMP.N0000 (Sampath Bank PLC)
CPC guzzles Rs. 631 b in debt for fuel EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

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» Banks, Finance & Insurance Sector Chart
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» VPEL.N0000 (Vallibel Power Erathna PLC)
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CPC guzzles Rs. 631 b in debt for fuel EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
CPC guzzles Rs. 631 b in debt for fuel EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

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CPC guzzles Rs. 631 b in debt for fuel EmptyThu Oct 06, 2022 11:26 am by කිත්සිරි ද සිල්වා

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    CPC guzzles Rs. 631 b in debt for fuel

    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22

    CPC guzzles Rs. 631 b in debt for fuel Empty CPC guzzles Rs. 631 b in debt for fuel

    Post by First Guy Wed Mar 19, 2014 7:23 am

    By Ashwin Hemmathagama
    Our Lobby Correspondent


    To keep fuel supplies uninterrupted, Ceylon Petroleum Corporation has obtained Rs. 631 billion worth of loans during June 2011 – December 2012, increasing its accumulated losses, Minister of Petroleum Industries Anura Priyadharshana Yapa told the Parliament yesterday in response to a question for oral answers raised by JVP MP Anura Kumara Dissanayake.

    According to Minister Yapa, these creditors are the two state banks – Bank of Ceylon and the Peoples Bank in addition to National Iranian Oil Company, which extended a credit facility in 2011. “We have paid Rs.35 billion as interest,” confirmed the Minister who looks at reducing the debt by increasing the prices of petroleum products in the near future.

    Highlighting the factors forcing CPC to run at a loss MP Dissanayake saw the “ongoing politicisation” a key drawback compared with the profit making competitor Lanka IOC. “CPC is nothing more than a public burden. CPC is fully dependent on the two state banks. Lanka IOC as well as the CPC both import petroleum and you continue to make loss. The management is inefficient,” said MP Dissanayake.

    http://www.ft.lk/2014/03/19/cpc-guzzles-rs-631-b-in-debt-for-fuel/


      Current date/time is Thu Jun 20, 2024 10:48 am