Lubricant industry faces major setback

The lubricant industry is facing a major setback due to the adverse global economic conditions and the surging cost of fuel prices, said Managing Director/CEO, Chevron Lubricants Lanka PLC, Kishu Gomes.

He said the decline in the vehicle market, high fuel prices and inflation are the primary reasons for the drop in demand for lubricants.

“The restoration of peace and stability in the country will have a positive impact on investor confidence which would help accelerate development activities and revive the economy”, Gomes said.

Chevron Lubricants, a market leader in the lubricant industry launched Road Safety program, a Corporate Social Responsibility (CSR) initiative to help build a good driving culture and reduce accidents.

The program was launched in the Kalutara and Kurunegala districts early last month with the aim of extending it to all major towns throughout the country.

Gomes said there has been a tremendous response to the Road Safety program which is aimed at recognising and rewarding good driving that will help to minimise road accidents.

Over the past ten years the loss to the country due to road accidents exceeded Rs. 10 billion while the death toll had risen each year according to a Parliamentary Select Committee report.

The report states that over 18,000 people have been permanently disabled due to accidents.

“Rewarding proper adherence to road rules and courteous driving will help create a good driving culture that will reduce the number of accidents”, Gomes said.

Good drivers will be spotted by a police surveillance team and will be rewarded with an insurance cover, a gift voucher and a certificate.The best three will be presented an insurance cover of Rs. 1 million, Rs.500,000 and Rs.250,000.

Gomes said the company invested around seven million rupees for the program which has recognised over 50 drivers up to now and targets to reward another 50 with more cash prizes.

The program is implemented under the supervision of SSP, Director Traffic Lucky Pieris and vehicles for surveillance are provided by Micro Cars Ltd. (LF)