Connect with us

News

Plan to write off Rs.300mn worth debts of fuel station owners revealed

Published

on

A proposal has been made to get the Cabinet approval to write off an excess amount Rs. 300,882,260.78 due to the Ceylon Petroleum Corporation (CPC) from the filling station owners as bad debt, it is learnt.

The trade union representatives alleged that most of the filling station owners are friends and relatives of politicians, and that they are taking advantage of these connections.

The total amount owed to the CPC from the fuel distributors is over Rs.16 billion and Rs.300 million has been proposed to be cut off as the first stage.

The Aruna newspaper reported that the proposal is to be forwarded to the Cabinet this week.

This amount is estimated as the amount to be owed up to March 16, 2022.

It is estimated that this amount should be paid to the CPC under fuel price stabilisation which is the basis for calculating the discount amount to the filling station owners keeping up with fuel price fluctuations.

It is said that the recommendation to write off the amount owed as bad debt has been made based on the decision taken by the Board of Directors that the CPC cannot hand over filling stations with unpaid debt, to foreign investors.

Meanwhile, it was reported that the majority of the Deputy General Managers of the Board of Directors have expressed their disapproval of this decision.

A senior officer of the CPC revealed that only the Chairman, Deputy General Manager (marketing) and Marketing Managers have agreed to this decision.

The senior official also said that the ministry secretary also objected to the decision when there was an audit inquiry and a court case ongoing with regard to writing off the debt.

It was reported that this is being done as a preliminary stage measure to write off the amount to be charged from the filling stations when handing them over to Sinopec in China.

Although the distributors received high profits during the oil price hikes, it has been proposed to write off this amount considering the losses they incurred when oil prices were reduced.

More profits for Sinopec filling station owners

Meanwhile, it was reported that the Sinopec is giving a profit of Rs.6 per liter of petrol to the filling station owners while issuing fuel to the consumers Rs.3 less than normal prices.

News

Arthur C. Clarke Centre announces satellite launch for next year

Published

on

By

The Arthur C. Clarke Centre has announced plans to launch a satellite next year. 

Professor Chandana Jayaratne, Director of the Astronomy and Space Science Unit at Colombo University’s Physics Department and Chairman of the Arthur C. Clarke Institute for Modern Technologies, emphasized the need for further infrastructure development to educate schoolchildren on satellite technology.

He made these remarks during a program focused on teaching students about satellite technology.

Continue Reading

News

Suspect in burglary of Sachithra Senanayake’s house arrested

Published

on

By

Police have apprehended a suspect involved in the burglary of former Sri Lankan cricketer Sachithra Senanayake’s house in the Kalalgoda area of Thalangama. 

The burglary occurred on the night of June 22, 2024.

The suspect, a 34-year-old resident of Thalangama, was identified through CCTV footage. 

Police recovered the stolen items, including a laptop, two tablet PCs, five expensive watches, four valuable bracelets, two rings, and Rs 10,000 in cash, from the suspect’s house. 

The motorcycle used in the theft has also been seized.

The suspect, who has a history of criminal activity and was recently released on bail after serving time for multiple burglaries in Kottawa, Thalangama, and Maharagama, will be produced before Homagama Court. 

Kottawa Police are conducting further investigations.

Continue Reading

News

MP Dylan Perera’s vehicle involved in highway accident

Published

on

By

MP Dylan Perera’s vehicle was involved in an accident near the Galanigama interchange on the Southern Expressway. 

The former minister was not injured, but another passenger in the car sustained injuries.

Kalutara-South Police and Highway Police are conducting further investigations into the incident.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved