Rs 100bn loss for Ceylon Petroleum Corporation

by admin
Nov 30, 2012

The Ceylon Petroleum Corporation has incurred losses of over Rs 100bn, reported The Sunday Times.

A senior official at the Ministry of Petroleum Industries said that the losses are due to arrears from state institutions and providing fuel at concessionary rates.

The Ceylon Electricity Board (CEB) owes Rs 47 billion, SriLankan airline Rs 21 billion, the Defence Ministry Rs 14 billion and Sri Lanka Railway Rs 5 billion.

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