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Rs.15bn owed to CPC to be written off as bad debt!

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A Cabinet paper is to be submitted to write off more than Rs.15 billion owed to the Ceylon Petroleum Corporation (CPC) from the distributors as bad debt.

The amount owed to the CPC under fuel price stabilization which is based on the calculation of rebates to distributors has exceeded Rs.15 billion when compared to the fluctuations in fuel prices.

The Board of Directors has decided that when providing filling stations to China’s Sinopec, Australia’s United Petroleum and the USA’s RM Parks Inc for the sale of fuel in the Sri Lankan market, they cannot be released as filling stations owed to the CPC.

A senior official said that a Cabinet paper will be submitted proposing to write off this amount, taking into consideration the loss incurred by the distributors during the decrease in oil price.

CPC workers meanwhile demanded that this loan amount, which would be written off for the benefit of the distributors, be used for the benefit of the public.

They pointed out that the majority of distributors are allies of politicians.

Although the CPC Marketing Bureau had earlier tried to recover this due amount from the distributors in four installments, several distributors had taken steps to file a lawsuit against the CPC.

Source – Aruna

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Former Minister Ronnie de Mel no more

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Former Minister – Ronnie de Mel has passed away today (27) while being treated at a private hospital, reports say.

He was aged 99 years old.A former civil servant, he was the Minister of Finance from 1977 – 1988 under the United National Party government and holds the record for the largest number of budgets presented by a finance minister.

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NPP to also back NCM against Speaker

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The National People’s Party (NPP) has also decided to back the No Confidence Motion against Parliament Speaker Mahinda Yapa Abeywardena.

Opposition Leader Sajith Premadasa, Parliamentarian M.A. Sumanthiran, Chief Opposition Whip Lakshman Kieirella, Professor G. L. Peiris, Tissa Attanayake, Chandima Weerakkody, Shan Wijayalal de Silva, and others have signed the motion on behalf of the Samagi Jana Balawegaya and Samagi Jana Alliance.

Meanwhile, Dullas Alahapperuma, the leader of the Freedom People’s Congress has also said that they would back the NCM.

Yesterday (26), the Uttara Lanka Sabhagaya had stated they would back the motion as well. 

The motion cites several reasons, including the Speaker’s failure to appropriately present the amendments proposed by the Supreme Court for the Online Safety Bill before its passage. 

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Muthukumarana to take up Uddika Premarathne’s MP seat

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S.C. Muthukumarana is set to be named to the Parliamentary seat  left vacant after the resignation of Anuradhapura District MP – Uddika Premarathne.

It is reported that the Secretary General of Parliament – Mrs. Kushani Rohanadheera has informed of this to the Election Commission, in accordance with Section 64(1) of the Parliamentary Elections Act No. 1 of 1981.

Related News :

Uddika Premarathne resigns as MP

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