CPC, CPSTL project Rs 53B as expenses for 2022

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As the country is struggling with the severe economic crisis this year, the two important institutions, Ceylon Petroleum Corporation (CPC) and Ceylon Petroleum Storage Terminal Limited (CPSTL), have indicated a staggering
Rs 53 billion as the total expenses they would incur in 2022.

The CPSTL, a subsidiary company of the CPC, in its expenditure for 2022 has quoted Rs 7.5 billion (7,502,431,079) whereas the CPC has stated that its expenditure for 2022 will be Rs. 45.5 billion (Rs. 45,482,542,996).

Ceylon Today obtained the CPSTL’s ‘personal cost Budget 2022’ (Revised Budget after AMC 25-11-2021 to 2022)  draft that lists that they have to pay Rs 1.7 billion (Rs 1,724,348,185) as overtime, while the annual bonus would be
Rs 426 million (426,066,290).

For the years 2020 and 2021, the expenditure of the CPSTL was Rs 7.3 billion. The basic salary stood at Rs 2.4 billion (Rs 2,463,702,539). The number of staff at the CPSTL is around 2,200 while at the CPC there are around 2,500 employees.

Also, the CPSTL laundry allowance for 2022 would cost Rs 2.7 million (Rs 2,709,983), the draft states while they also point out that Sunday/Holiday pay would amount to Rs 3.4 million (Rs 34,301,005).

Their transport allowance stands at Rs 104 million (Rs 104,126,400) and their medical bonus at Rs 242 million (Rs 242,095,412) for 2022.

The CPSTL also offers number of other allowances such as  elevation allowance, risk allowance, stagnation allowance, attendance incentives, annual leave incentives, shift allowance , other allowance, meal allowance, cost of living allowance and many more combined, that would cost staggering  Rs 7.5 billion.

Meanwhile, the CPC in its ‘Overhead expenditure Budget 2022’ has mentioned that for ‘legal’ matters they would incur Rs 269 million (Rs. 269, 914, 634) while their expenses at the Ratmalana Airport would cost them Rs 71 million (Rs 71,002,395) in 2022.

By Sulochana Ramiah Mohan