News
Govt. to build 25 new oil tanks in H’tota
By Ifham Nizam
Plans are underway to construct 25 oil storage tanks in Hambantota and Power and Energy Minister Mahinda Amaraweera has asked a team of experts to identify land and obtain approval of the Urban Development Authority, according to an a senior official close to the Minister.
The official told The Island that the refurbishment of the 25 tanks in Trincomalee would cost more than Rs. 2,000 million and it would also take more than 36 months to complete repairs.
Recently Minister Amaraweera sought the intervention of India High Commission to Sri Lanka to have 25 out of 99 oil tanks currently under Indian Oil Company returned to the Ceylon Petroleum Corporation.
The Commissioner said that since LIOC did not come directly under the Indian government and the matter would have to be taken up with the company.
Lanka IOC Managing Director Manoj Guptha, contacted for comment told The Island that government to government discussions were on due to the strong bond of the two nations.
The IOC acquired 99 tanks -15 lower and 84 upper tanks on a 35-year lease in 2003..
The storage capacity of the Trincomalee Complex is one million tonnes.
A state official said only 15 tanks at the farm were utilised.
Approval has been granted at the Cabinet meeting held on 22.07.2024 to publish the draft bill of State Assets Management Act in the government gazette notification and thereby present it to the Parliament for its concurrence.
However, the draft bill couldn’t be passed in Parliament as a result of the Parliament being dissolved in the month of October 2024.
Thereafter, the draft bill was subject to further inspection by a
committee appointed which comprised of officials and authorities on the subject.
The said Committee has recognized the amendments to be made and a fundamental draft has been prepared including the proposed amendments.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to suspend further activities regarding the draft bill of State Assets Management Act published in the extraordinary gazette of 02.08.2024, and to direct the Legal Draftsman to prepare a draft bill based on the fundamental draft prepared by the subject specialists’ committee.
Considering the compliance of the Cooperative Societies’ operations with the concurrent socio – economic circumstances as well as the changes in the common law, the requirement of amending the Cooperative Employees Commission Act No. 12 of 1972 has been recognized.
A fundamental draft including proposed amendments based on the experience gained by that Commission as well as the opinions and proposals of Cooperative societies, their director board members, cooperative employees and other interested parties has been prepared.
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Trade, Commerce, Food Security and Cooperative development to provide instructions to the Legal draftsman to prepare a draft bill to amend the Cooperative Employees Commission Act No. 12 0f 1972, based on the said fundamental draft.
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