Kanchana meets CPC union reps

0
28

Minister of Power and Energy Kanchana Wijesekera held a discussion with the representatives of the trade unions from Ceylon Petroleum Corporation (CPC) and Ceylon Petroleum Storage Terminals Limited (CPSTL).

The minister said, he briefed the trade union leaders on the Cabinet proposal that was approved on 27 June and the cargo plan for July/August. In a tweet, he also said the proposal to invite oil producing companies to import fuel and operate retail sales was explained to the trade union representatives.

On Monday, Cabinet approved the proposal presented by the Minister of Power and Energy to provide long-term agreements with selected companies following the formal procedure, allowing them to import, distribute, and market fuel to Sri Lanka.

The Ceylon Petroleum Corporation contributes around 90 per cent of the total fuel supply to the country, while the remaining 10 per cent is supplied by the Lanka Indian Oil Company (LIOC). The Government says ensuring an uninterrupted fuel supply to the country has become a challenge due to the present foreign exchange crisis in Sri Lanka.

“Therefore, it seems appropriate to enter into long-term agreements with oil companies in the oil-producing countries to enable them to import and sell fuel using their funds, so as not to put pressure on the country’s foreign reserves,” it said.