Feb 19, 2022

CBSL to control CPC finances!

It has been decided to appoint a senior official of the Central Bank of Sri Lanka to manage the finances of the Ceylon Petroleum Corporation.

The Central Bank and the Ministry of Energy have already agreed to this.

The Petroleum Corporation is the only state institution in the country with a revenue of Rs. 2 billion (Rs. 2 billion) per day. No matter how much revenue the CPC earns, it is at a loss due to supplying fuel to the CEB on credit which has accumulated to around Rs. 80 billion.

Several other institutions including Sri Lankan Airlines is in debt to the CPC, which is the reason that it was suggested to appoint a senior officer from the Central Bank to manage its finances.

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