Litro Chair refutes funds misuse allegations

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Litro Lanka denied the allegations that World Bank funds were misused in the LP gas import contract and the purchases for Litro Gas Lanka.

While rejecting the claims as false and baseless, Litro Gas Lanka Chairman Muditha Peiris noted that the LP gas shortage in the Sri Lankan market has now been completely eliminated and that the selection of international suppliers, capable of providing a continuous gas supply to meet local needs in the future has been transparent.

He also said the World Bank is the world’s leading institution with full transparency that provides financing, using advanced and approved international comparative methods and Litro Gas Company has been recognised as a company that works in accordance.

“Litro Gas Lanka has a great reputation, with the performance level expected by the World Bank and the provision of financial facilities in accordance with the World Bank’s supervision by the Council of Ministers and the State Treasury. On the basis of supervisory approval, Litro Gas Lanka has operated with full transparency,” he said.

Addressing the media yesterday (13), he also said the Oman trading company was chosen for the shipping charges of 100,000 MT of gas, because they informed the Siam gas company, which had quoted a lower price, that they were unable to supply gas to the current market requirement in the short-term purchase quotation.

BY Thameenah Razeek