Connect with us

News

CPC paid over $17mn. as demurrage costs in the last 2 years!

Published

on

The Ceylon Petroleum Corporation (CPC) had been compelled to pay USD 170,873,816 as demurrage costs in the last 02 years for oil shipments obtained out of procurement process and under emergency purchases.

A state audit has revealed that the CPC has paid USD 1,651,470 in 2021 and USD 169,222,346 in 2022 as demurrage costs.

The cost has risen by 924 per cent in 2022, compared with the previous year.

In addition to demurrage costs, a large sum has been footed as premiums, reports add.

Meanwhile, CPC officials were summoned to a COPE meeting last week. During the meeting, it was revealed that while there are no demurrage costs in 2023,  such costs which took place in 2021 and 2022 still exist.

Also, the Auditor General had mentioned that a special audit investigation has been initiated in this regard and the report will be prepared and completed within a month. The Auditor General pointed out that the matter can be discussed at length after the report is compiled.

During the meeting, it was also discussed whether steps have been taken to recover  USD 21 million that should be collected due to the non-delivery of crude oil as agreed with suppliers.

(Source : Divaina)

News

278 prison inmates to be pardoned

Published

on

By

A total of 278 inmates at prisons across the island will be released tomorrow in view of Vesak festival, the Prisons Department said.

Continue Reading

News

Parliament suspended due to lack of quorum

Published

on

By

Parliament sessions were abruptly suspended until June 04 due to a lack of quorum. 

There were less than 20 member present during the time of suspension. 

MP Jagath Samarawickrama was at the Chair.

Continue Reading

News

Notice for students sitting for Grade 5 scholarships

Published

on

By

The Department of Examinations has announced that the 2024 Grade Five Scholarship Examination will be held on September 15 this year.

It adds that applications for the examination will be accepted online from May 27 – June 14, 2024 and acceptance of applications will not be extended beyond the announced period.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved