News
Dayasiri warns of steep CPC revenue loss due to entry of foreign fuel companies
By Rathindra Kuruwita
Dissident Sri Lanka Freedom Party (SLFP) MP, Dayasiri Jayasekera, has expressed concern over a potential 50% drop in the revenue of the Ceylon Petroleum Corporation (CPC) due to the entry of foreign companies into the petroleum market.
Jayasekera highlighted the adverse impact of the policies of successive governments on the CPC.
“The nationalisation of petroleum infrastructure was a great victory for the country. However, we have ruined the CPC. The government said the price of fuel would drop when new companies enter the retail fuel trade, but all companies sell fuel at the same price. Prices won’t go down even if United Petroleum Australia and US-based RM Parks come either,” he said.
The MP emphasised that when the CPC was the sole fuel retailer, money spent by Sri Lankans on fuel remained within the country. The CPC’s retail fuel revenue typically ranged between 78 and 83 billion rupees.
Earlier, one of the conditions imposed on the new entrants was that the money earned by selling fuel could be taken out of the country after one year. The money earned by selling fuel can be converted to US dollars only nine months after the sale of it. The other condition was that one percent of the monthly revenue would be held by the Ministry of Power or an institution assigned by the government.
“These conditions were initially imposed because the government said neither the Ceylon Petroleum Corporation (CPC) nor the Lanka IOC had maintained adequate dollar reserves to buy fuel, leading to shortages in 2022. These conditions were also imposed to ensure these companies did not take away the profits immediately,” he said.
However, this was later scrapped by the Cabinet. “They are now saying that since the economy has stabilised those companies can convert rupees into dollars and take it out almost immediately. Apparently, the government will earn about 1.5 billion from these companies when they get their businesses running. But the country will lose over 40 billion,” he said.
Jayasekera highlighted that as per the agreements signed between the government and the prospective retail fuel companies, a stipulation was set that required these firms to initiate operations within 45 days of signing the agreement. However, Jayasekera pointed out that RM Parks, despite signing the agreement nearly six months ago, has yet to commence operations as per the agreed terms.
Dr Ashoka Ranwala, President of the General Employees’ Union of the Petroleum Corporation, said the SLFP MP’s concerns were valid and that the government was trying to undermine the CPC and other state-owned enterprises.
News
The use of local organic Agricultural products in the Bakery Industry will strengthen both local farmers and the tourism industry – PM
Prime Minister Dr. Harini Amarasuriya stated that the use of local organic agricultural products in bakery production would provide significant support to both local farmers and the growth of the tourism industry.
The Prime Minister made these remarks while addressing the Annual meeting of the All Ceylon Bakery Owners’ Association, held at the Shangri-La Hotel, Colombo, on Friday (12 June).
The Prime Minister stated,
“At a decisive moment when the country is moving towards a new phase of economic transformation, I believe that the bakery industry has the potential to become a key driver of the national economy, rather than remaining limited to flour-based products alone.
The food production must be mainly considered the quality and safety of food. Therefore, instead of focusing solely on taste, we should introduce nutritious and healthy products to the market that are free from artificial flavourings and colourings.
By using ingredients such as rice flour, finger millet, foxtail millet, green gram, and indigenous tubers to create value-added products, the bakery industry has the opportunity to capitalize on the growing global trend towards health-conscious diets.
The use of local organic agricultural products in food prepared for foreign tourists will provide substantial benefits to local farmers while also contributing to the growth of the tourism industry. At the same time, the government remains committed to strengthening local entrepreneurs by reducing challenges related to the importation of raw materials, providing concessionary loans for new technologies, and offering the technical assistance required to meet international standards.
The government has already launched programmes through the Ministry of Industries to provide the necessary training and market linkages to help small and medium-scale bakery owners develop and expand their businesses”.
The occasion was attended by the Deputy Minister of Industries Chathuranga Abeysinghe, President of the All Ceylon Bakery Owners’ Association N.K. Jayawardana, and a number of members of the Association were also present at the event.

Prime Minister’s Media Division
News
Prime Minister meets with UNICEF delegation
Prime Minister Dr. Harini Amarasuriya met with a delegation from the UNICEF on Friday (June 12) at Temple Trees to discuss ongoing efforts to support the recovery of the education sector following the impact of Cyclone Ditwah.
Discussions focused on the implementation of activities outlined in the report titled “Cyclone Ditwah Education Emergency Response Plan: Phase 1 Progress Updates (January–April 2026).” The meeting provided an opportunity to review the progress achieved during the initial phase of the response and to discuss future interventions aimed at supporting children and schools affected by the disaster.
The Prime Minister and the UNICEF delegation also exchanged views on strengthening collaboration to ensure the continuity of education and the well-being of affected children.
The UNICEF delegation included Emma Brigham, UNICEF Representative, Begona Arellano, Deputy Representative, and other UNICEF officials.

(Prime Minister’s Media Division)
News
Switzerland to vote on plan to cap population at 10 million
Can a country put a fixed limit on its population? That is the question Switzerland will be answering on Sunday when voters go the polls to decide on a proposal to cap their population at 10 million, a move that has exposed divisions about immigration in the Alpine nation.
The move is backed by the right-wing Swiss People’s Party, which describes it as a “sustainability initiative” aimed at easing pressure on housing, public services and the environment. However some voters see this as the party’s latest anti-immigration move.
Dubbing it a “chaos initiative”, the government, other political parties, business leaders and trade unions argue it will deprive hospitals and hotels of much needed staff, and damage hard-won relations with the European Union, leaving non-EU member Switzerland isolated in a very risky world.
Switzerland’s population has grown rapidly since 2002, when it stood at 7.3 million. Now it is 9.1 million, 27% of whom are Swiss residents who were born abroad.
Switzerland’s system of direct democracy means all major decisions are taken via the ballot box. Campaigners simply have to gather 100,000 signatures to ensure a nationwide vote.
Many voters are concerned by overcrowded trains, expensive apartments and rising health costs.
The latest opinion polls indicate this could be a very close vote.
They suggest voters are inching towards a no vote by a wafer thin margin, with 52% opposed – but polls remain divided, with 45% saying they are in favour of the proposal and a significant number of voters still undecided.
[BBC]
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