CPC loss for 12 days is Rs.1billion


Ceylon Petroleum Corporation stated that the refinery at Sapugaskanda that was closed down on the 26th due to unavailability of crude oil would commence work from tomorrow. As such, the refinery did not function for 12 days.

According to CPC sources the loss to the Corporation (Sri Lanka) during the stoppage is estimated as Rs. 1000 million.

Economists say the Corporation will have to increase the prices of fuel again to meet its losses and this would increase the prices of essential commodities, bus fares and the electricity tariff in another round.


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