Political News | Sundayobserver.lk

The Ceylon Electricity Board (CEB) and Ceylon Petroleum Corporation (CPC) which are reeling under serious financial difficulties today had been viable public ventures in the 1990s wrong political decisions and mismanagement have been attributed as reason.

UNP sold CPC assets to private sector

Petroleum Industries Minister Susil Premajayantha

Q: The Ceylon Petroleum Corporation (CPC) which was one of the profit earning ventures in 1994 recorded a total loss of Rs.81 billion last year. The CPC is indebted to two state banks to the tune of Rs.53 billion. How has this come about?

A: the profit earning divisions of the CPC had been sold to the private sector by the former UNP regime. The best 105 filling stations, the Trincomalee Jetty and 600 acres of land with 99 tanks had been sold to an Indian Company.

The oil import, distribution and selling oil at subsidised prices are the main functions of the CPC at present which incurs huge losses due to escalating oil prices in the world market.

Shed narrow political differences

Water Supply and Drainage Minister and Chief Government Whip Dinesh Gunawardena

Q: It is time to unite all sections of the political spectrum to protest against the dictates of the so-called human rights defenders. What have you got to say about this development?

A: Opposition Leader, Ranil Wickremesinghe's recent statement in Parliament creates suspicion as to whether he is acting as proxy of the international community which wants to push this country into turmoil so that they could have implement their agendas here.

All patriots should unite to defend the country at this decisive hour disregarding narrow party politics.

Switch off one light between 6 and 9.30 pm

Power and Energy Minister Patali Champika Ranawaka

Q: How do you intend to meet the impact of the fuel adjustment charge following the fuel price hike in the world market?

A: The Ceylon Electricity Board had to spend over Rs.39,841 million this year due to fuel prices hikes in the world market. The CEB earned Rs.141.6 billion and 88 percent of it had been spent to generate electricity. The estimated cost of electricity generation in 2012 had been 96 percent of its revenue.

To face this situation the Ministry decided to cut down expenditure. We earnestly call upon people to save energy as much as possible. If the people switch off one light between 6 pm and 9.30 pm we could save 120 w.