Caltex Road Star rewarded

Energy is the driving force of an economy and its growth should be three percent higher than the expected GDP, said Managing Director and CEO, Chevron Lubricants Lanka PLC, Kishu Gomes.

He was addressing a ceremony at the Caltex office in Colombo on Wednesday to award the grand prize winner of Caltex Road Star, an initiative to promote road safety in the country.

"Sri Lanka is not geared to meet the full energy needs of the country. Energy prices are too high and so the demand at the right price cannot be met", Gomes said.

Sri Lanka is not in line with the global norm of having its energy sector growth higher than the country's GDP growth. Rural electrification has not been properly addressed and around 15 percent of the population still do not have electricity.

Gomes said growth in the lubricants industry has been sluggish during the latter part of the year as against a vibrant start.

The dormant growth in the industry is a common phenomena across the board.

The lubricants industry consists of 15 players and the sector has expanded with greater demand following the opening of the North and the East.

Chevron Lubricants completed the final phase of the road safety campaign with the presentation of awards.The Caltex Road Star grand prize was awarded to Road Star S. Thusitha Weeramunda of Wattala and consolation prizes were presented to Prajani Nilanthi Rajakaruna of Gampaha and R.M. Ranaweera Bandara of Anuradhapura.

The objectives of the program is to promote proper adherence to road rules and enhance driving competency.

Deputy Inspector General of Police Traffic and Traffic Administration, Asoka Wijetilleke said that the loss to the economy due to accidents during the past decade was over Rs.100 billion with over a million vehicles damaged.

He said around 150 accidents occurred a day with nearly five to six being fatal.The government's annual expenditure on hospitalisation due to road accidents is around two percent of the country's GDP. Around 1,000 motorists were rewarded based on their driving competencies and adherence to road rules under phase one of the program.

Motorists were awarded insurance policies based on a special evaluation criteria under the second phase.

A cash prize of Rs. 100,000 and a certificate by the Motor Traffic Authority was presented to the Caltex Road Star. The road safety program was conducted across major cities in the country.

Chevron Lubricants the marketer of Caltex branded lubricants in the country has over 50 percent market share.

The company operates 1,000 branded service stations in the country with Xpress as its flagship brand.