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Sunday, 10 April 2011

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Laugfs secures supply of LP gas again

President Mahinda Rajapaksa has directed officials of the Ministry of Petroleum Industries to instruct the Ceylon Petroleum Corporation (CPC) to supply 50 percent of the entire LP Gas output to Laugfs Gas PLC with immediate effect.

Laugfs Gas PLC had an exclusive arrangement with the CPC to purchase the entire LPG production from the time they entered into the LP Gas market.

However, when the Government took over Shell Gas Lanka Ltd and named it Litro Gas Lanka Ltd, the CPC decided to split the production on the basis of market share giving 70 percent to Litro Gas Lanka Ltd and 30 percent to Laugfs Gas PLC.

The President whilst instructing officials to ignore the market share basis assured Laugfs 50 percent of LP Gas production, in keeping with the President's mission to safeguard and protect local industries.

This decision was a sequel to a meeting that took place on Tuesday at Temple Trees with the participation of Secretary, Ministry of Finance Dr. P.B. Jayasundera, Additional Secretary to the President and Chairman of Litro Gas Lanka Ltd Gamini Senerath, Secretary to the Ministry of Petroleum Industries Titus Jayawardena, Chairman CPC Harry Jayawardena, Chairman of Laugfs Gas PLC. W.K.H. Wegapitiya, Managing Director Laugfs Gas PLC U.K. Thilak De Silva and CEO of Litro Gas Lanka Ltd Piyadasa Kudabalage.

 

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