News
CPC burdened with staggering losses due to overstaffing and other state agencies not settling monies owed to it
By Ifham Nizam
The Power and Energy Ministry took steps to pay USD 34 Million on Tuesday (21) for a cargo of Heavy Fuel Oil/Furnace Oil.
Power and Energy Minister Kanchana Wijesekara said yesterday that the vessels carrying the fuel was being unloaded yesterday (22) and the stock would be used for power generation and industries.
Wijesekera said plans were underway to limit the daily power cut to two hours and 30 minutes, though the electricity sector regulator, the Public Utilities Commission wanted to extend it to three hours until the second plant of the Norochcholai Power Plant Complex was restored.
He also said that the Ceylon Petroleum Corporation had supplied more than USD 300 million worth of fuel on credit before 2019.
“During the past two years they have paid for all supplies,” Wijesekera told journalists recently. “But from before 2019 for a long period there is an outstanding of USD 300 million, which should be paid back to the CPC,”
“The CPC is running at losses partly due to supplying fuel to other state agencies on credit, but they do not pay on time”, he said.
“The Ceylon Electricity Board, Sri Lanka Railways also owe money to the CPC”, he said.
In a tweet earlier in the day, Minister Wijesekera said the staff number was “staggering”, which is one reason the CPC makes losses while Lanka IOC does not.
Prime Minister Ranil Wickremesinghe recently said Sri Lanka needed to strengthen the rupee, in line with the daily requirements of its citizens.
He said that another USD 1 billion was needed to strengthen the rupee. “That means we have to find USD 6 billion to keep the economy afloat for the next six months.
(Ms.) Nina P. Cainglet, Ambassador of the Philippines to Sri Lanka based in Dhaka, paid a courtesy call on Prime Minister Dr. Harini Amarasuriya at the Prime Minister’s Office on May 16, 2025.
The Prime Minister welcomed Ambassador Cainglet and extended her congratulations on the new appointment. The discussion focused on expanding cooperation in trade and tourism, with both sides expressing their commitment to exploring new opportunities in these key sectors. The meeting also addressed consular matters relating to the Filipino community in Sri Lanka. In this regard, the Ministry of Foreign Affairs assured continued dialogue and necessary support on relevant issues.
The meeting was attended by Ms. Judienne Capiz, Vice Consul of the Embassy of the Philippines in Dhaka, Pradeep Saputhanthri, Secretary to the Prime Minister; Ms. Sagarika Bogahawatta, Additional Secretary to the Prime Minister; Ms. S.S. Premawardhane, Additional Secretary, Bilateral Political Affairs (East); and M.R. Keegel, Deputy Director, Southeast Asia & Central Asia Division, Ministry of Foreign Affairs.
[Prime Minister’s Media Division].
The Bribery Commission on Friday filed a corruption case against former Investment Promotion Minister Lakshman Yapa Abeywardena and ex-BOI Director General Jayantha Edirisinghe, accusing them of misusing public cash for a lavish newspaper ad campaign back in 2014.
They stand accused of siphoning Rs. 1.7 million in state funds to publish 11 newspaper supplements marking the second inauguration anniversary of then-President Mahinda Rajapaksa on November 19, 2014.
According to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), the move amounted to a clear breach of anti-graft laws, with five formal charges now filed before the Colombo High Court.
The case, centred around alleged misuse of Board of Investment (BOI) funds, is backed by 21 pieces of documentary evidence and testimony from 15 witnesses.
The Bribery Commission maintains that the ad blitz had no official sanction and led to a direct loss of Rs. 1,748,877.76 to the state.
Inspector General of Police T.M.W. Deshabandu Tennakoon is set to face formal questioning tomorrow (May 19) over serious allegations of misconduct and abuse of power, parliamentary sources said on Friday.
A special committee appointed to investigate the claims will commence formal proceedings next week, following several rounds of preliminary discussions held within the parliamentary complex in recent weeks.
The IGP has been officially notified to appear before the committee and is expected to face the inquiry for the first time at 2:00 PM in Committee Room No. 8.
The committee, which met again on Thursday (15) to finalise arrangements, is investigating allegations that Tennakoon misused his official powers in a manner deemed severe and improper.
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