News
CPC issues red notice to state agencies
View(s):The Petroleum Industries Ministry will enforce with immediate effect a maximum two-month credit limit for state institutions to pay their fuel bills, Minister Anura Priyadharshana Yapa said.
He said supplies would be discontinued if the arrears were not paid within two months. Concessionary terms would also be withdrawn. Among the main institutions which owe the CPC large amounts are SriLankan Airlines and Mihin Lanka. The two airlines owe the CPC a staggering Rs. 30 billion.
“We have been providing fuel to state institutions despite their long overdue arrears. We initially introduced a credit limit, but now we hope to get tough to collect the arrears,” Mr. Yapa said.
The Ceylon Electricity Board, the Railways, the Sri Lanka Transport Board, the Ministry of Economic Development, the armed forces and the Police are among those other institutions which together owe the CPC more than Rs. 108 billion.