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| Sunday, 22 August 2004 |
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CPC unions to meet President again by Anton Nonis President Chandrika Bandaranaike Kumaratunga, during discussions with Ceylon Petroleum Corporation trade union representatives last week, had given them time to submit their proposals and decisions as to why CPC should not be privatised, Power & Energy Deputy Minister, Kumara Welgama said. It is likely that their decisions would be conveyed to President this week. CPC workforce should prove that it was quite capable of running the organisation and there was no necessity to privatise it. Trade union sources said that CPC had made a net profit of Rs. nine billion in 2002. With the IOC coming to the scene, a new formula had to be designed to arrive at the sale prices of petroleum products in the country. The new formula was implemented in February. An additional profit of Rs. 4.6 billion was shown following the implementation of the new formula. |
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