LIOC.N0000 (Lanka IOC PLC)

The Invisible wrote:I hope this is not just another talk like the previous many occasions.

කිත්සිරි ද සිල්වා wrote:

The Invisible wrote:I hope this is not just another talk like the previous many occasions.

Ethical Trader wrote:Thanks YK for sharing.
Ultimately a hole in the treasury is plugged, though belated.

slstock wrote:Actually though this Fuel hike seems a necessity and wise move, there are several issues.

1) This price revision was decided by some person.   Still there is no agreed price formula. I hear parliament people have not come to a consensus on it

2) In mid 2014 , oil was around $100 a barrel.
   I believe highest petrol went in SL was close to Rs 170

Now  it is Rs 137 ( after about 20% weakening of rupee from 2015 and oil close to $70 a barrel.

3) During the time when Oil went below $30 a barrel ( when Rs was also stronger), think of the profit/saving the country could have had when sold at Rs 117.

4) Kerosene is hiked by an unprecedented Rs 57 a liter. Lot of poor people use it to light lamps .

Now there is a theory that Local Buses pump Kerosene  to reduce costs.
If this move was to prevent such, Government  may have solved one problem but introduced another ( poor man fuel was doubled in price)



Summary :

Previous Government + this government is clearly mismanaging the economy. Fuel issue is very good example of such .

I don't think this sudden move of a hike with no clear plans  is well thought out though it looks needed

Now this will give the other indecent  people who want to take advantage of this hike  to
a)  raise bus fares
b) food prices

unjustifiably.


ANOTHER BIG BLOW TO THE COMMON MAN who is taxed left and right due to mis management by politicos ( previous and now)  and now also have to bear the repercussions of this move.

slstock wrote:Actually though this Fuel hike seems a necessity and wise move, there are several issues.

1) This price revision was decided by some person.   Still there is no agreed price formula. I hear parliament people have not come to a consensus on it

2) In mid 2014 , oil was around $100 a barrel.
   I believe highest petrol went in SL was close to Rs 170

Now  it is Rs 137 ( after about 20% weakening of rupee from 2015 and oil close to $70 a barrel.

3) During the time when Oil went below $30 a barrel ( when Rs was also stronger), think of the profit/saving the country could have had when sold at Rs 117.

4) Kerosene is hiked by an unprecedented Rs 57 a liter. Lot of poor people use it to light lamps .

Now there is a theory that Local Buses pump Kerosene  to reduce costs.
If this move was to prevent such, Government  may have solved one problem but introduced another ( poor man fuel was doubled in price)



Summary :

Previous Government + this government is clearly mismanaging the economy. Fuel issue is very good example of such .

I don't think this sudden move of a hike with no clear plans  is well thought out though it looks needed

Now this will give the other indecent  people who want to take advantage of this hike  to
a)  raise bus fares
b) food prices

unjustifiably.


ANOTHER BIG BLOW TO THE COMMON MAN who is taxed left and right due to mis management by politicos ( previous and now)  and now also have to bear the repercussions of this move.

The Invisible wrote:At least it will prevent LIOC from hiding behind government decisions on prices to cover up their mismanagement and syphoning of money. Lets wait and see till the fuel price formula is fully operational.

malanp wrote:I wrote this sometimes back in the forum;  

LIOC mada a loss when oil prices $150, and still made a loss when oil price is $50...

Multinationals hide profits,,so defenitely LIOC is not an investment share,,but may be a trading share.. that depends on how traders get in and get out..
For me it is a garbage.. when you keep garbage inside home you got to suffer..