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.
It has been reported quoting police sources that the death toll from the renewed unrest at the Negombo Prison which this morning, has risen from nineteen to twenty five (25).
A clash initially broke out between two groups of inmates (a group of remand prisoners and a group of convicted inmates serving sentences) at the Negombo Prison at around 1.00 p.m. on Sunday (05).
Two inmates died in yesterday’s clash, while around 40 others sustained injuries and are receiving treatment at hospital.
Prime Minister Dr. Harini Amarasuriya stated that the children of Sri Lanka are well capable of viewing the world with creativity and critical ways of thinking, and that the Government is committed to equipping them with the required knowledge and modern technologies necessary to realize their full potential.
The Prime Minister made these remarks while attending the opening of the ’Arumasiya’ Exhibition and the occasion of laying the foundation stone for a new three-storey building at Balangoda Vidyaloka Central College, on the 4th of July.
During the visit, the Prime Minister officially declared open the exhibition showcasing the students’ innovations and creative talents and commended them for their remarkable achievements. The Prime Minister also participated in the ceremony of laying the foundation stone for the construction of the College’s new three-storey building.
Addressing the occasion, Prime Minister Dr. Harini Amarasuriya stated:
“It is a pleasure to participate in this special event at Balangoda Vidyaloka Central College, the school where Sri Lanka’s first female Prime Minister received her education
I had the opportunity to visit the exhibition featuring the outstanding creations and innovations of the students. What I witnessed was a group of talented young people who have moved beyond textbook learning and are capable of viewing the world with creativity and critical thinking.
We are introducing a new education reform process that moves away from a rote-learning, examination-oriented system towards a practical and skills-based one. The Government is now systematically completing all the necessary preparations to implement the new education reforms scheduled to commence in 2027.
Our objective is to ensure that every child leaving school has access to vocational and technical education that matches their individual talents and meets the demands of the modern labour market. We are committed to transforming vocational education into a field that enjoys the same dignity and recognition as university education.
Finally, I commend the Principal and the academic staff of Balangoda Vidyaloka Central College for organizing this exhibition, and to the students and parents whose dedication made this event a success.”
The event was attended by Members of Parliament for Ratnapura District Wasantha Pushpa Kumara and Sunil Rajapaksha, the Mayor of Balangoda and members of the Municipal Council, the Zonal Director of Education, the Principal and academic staff of Balangoda Vidyaloka Central College, parents, and students.
Prime Minister’s Media Division
The appointment of a Special Parliamentary Ombudsman (SPO) to inquire into the complaints against the Attorney General, as promised in the NPP manifesto, is on hold, pending the establishment of an Independent Office of the Public Prosecutor and provincial Sub Officers.
Authoritative sources told The Island that the Justice and National Integration Ministry was awaiting the recommendations, regarding the new legislation for the establishment of such an Office, from a Committee of Technical Experts, chaired by Justice Yasantha Kodagoda, PC.
Responding to a query raised in Parliament by SJB lawmaker Ajith P. Perera about the delay in appointment of SPO, Justice and National Integration Minister Harshana Nanayakkara said the government couldn’t take a decision until the Kodagoda Committee made recommendations.
Nanayakkara said that the positioning of the SPO couldn’t be decided before they differentiate the powers of the Attorney General and the an Independent Office of the Public Prosecutor and provincial Sub Officers.
According to the NPP manifesto, provincial Sub Officers were to be established under a senior Additional Solicitor General.
Opposition sources pointed out that the relevant Cabinet decision was taken on 7 May 2025. According to the Cabinet Office, the government decided to establish an Independent Office of the Public Prosecutor and provincial Sub Officers in line with a proposal made by the United Nations High Commissioner for Human Rights, in her final report on Sri Lanka, submitted in September, 2024.
By Shamindra Ferdinando
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