Connect with us


Don’t allow Litro to become a sinking SOE: Watchdog




An organisation set up for making sure that Litro Gas conducts its operations and business in a viable and profitable manner fears that an impending reform strategy would compromise the Company’s capacity to turn around as a profitable State-Owned Enterprise (SOE).

Litro Surakime Jathika Ekamuthuwa (LSJE) or Litro Surakeeme National Unity, a collective of employees and members of civil society seeking to preserve the organisation, argues that Litro is well poised to compete with any multinational counterpart especially with its state-of-the-art bunkering facility in Kerawalapitiya with a capacity of 8,000 MT which can singlehandedly cater to the total national demand due to the efficiency in terms of management and operations.

“On a monthly basis, Litro’s bunkering facility handles approximately 35,000 MT of LPG and provides direct employment to over 225 personnel. The organization remains one of the greatest contributors to the local economy with an annual turnover exceeding Rs.50 billion. Litro also pays Rs.13 billion in dividends and Rs.34 billion in tax. However, by keeping the price of a domestic LPG cylinder at a minimum price between October 2019 & August 2021, Litro has suffered approximately Rs.8.5 billion in losses,” they say.

They further said: “Litro’s current crisis is two-fold: 1) Litro to incur further losses due to price of a cylinder not being determined by market forces. 2) Litro’s control to be handed over to Laugfs Holdings as per the recommendation of parliamentary subcommittee.”

“Experts cite both scenarios as being injurious to the organisation. Under recommendation 1 of parliamentary subcommittee report dated 27th of June 2021 price of a 12.5kg domestic LPG cylinder was fixed at Rs.1493. However, on 13th of August 2021 the Consumer Affairs Authority approved a price hike of Rs.363 for Laugfs cylinders only. Due to such provisions not being afforded to Litro Gas which is the largest player with 80% market share, the SOE currently absorbs a loss of Rs.847 per cylinder amounting to Rs.80mn a day and Rs.2.2bn per month.”

“They call to question the intentions and integrity of recently formed LPG buying firm Siyolit (Pvt) Ltd headed by Susantha de Silva as CEO/Chairman. It has been observed that the Directorate of this firm is lopsided with two directors being allocated to Laugfs which has a 20% market share while Litro, with over 80% market share, only being allocated three directors.”

“Further, Siyolit (Pvt) Ltd insists on buying from Litro only via Laugfs’ bunkering facility which necessitates transporting LPG from Litro’s facility in Kerawalapitiya to Hambantota by sea. Litro is compelled to obtain the necessary infrastructure for this process from Laugfs at an additional cost. Litro’s bunkering facility in Kerawalapitiya was built following comprehensive feasibility studies favoring the demand from the western province which amounts to 60% out of total requirement. It is feared that these myopic proposals may render the Kerawalapitiya facility, which is a national asset, obsolete in the long run due to underutilization.”

“As per Cabinet recommendations, a committee has been appointed to look into restructuring of the LPG industry for a trial period of six months. Many recommendations slated to be implemented by the committee, however, disproportionately disadvantage Litro. This may result in stifling investor confidence, raise issues regarding transparency and impact the per unit cost due to added overheads. It is feared that the outcome of this ‘restructuring’ would cause for Laugfs to thrive and Litro to inevitably shrink due to neglect and/or overt interference.””Taking the above into account we seek a sustainable solution to the crisis faced by Litro without infringing on its independence which has proved to have augured well for the organization prior to its downturn in 2019.”

“The real motivation behind seeking to make cash-rich Litro with 80% market share in LPG sector dependent on the competitor with only 20% share is a cause for concern as Litro has the capacity to not just recover itself but also to manage the competitor’s infrastructure profitably bailing out the institutions which financed this endeavor thereby,” they say.

The co-signatories to the above statement were President – A K Nalin Samantha, Secretary – J A D S Ternace Appuhamy, Treasurer – A P G S Jayakody – officebearers of ‘Litro Surakime Jathika Ekamuthuwa’.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Sri Lanka Insurance holds “Minimuthulanthaya” for Children’s Day 2021



Sri Lanka Insurance holds “Minimuthulanthaya” an exclusive series of informative and entertaining sessions for children and their parents commemorating the World Children’s Day 2021. The programme was held from 01st to 3rd of October 2021 via Sri Lanka Insurance official Facebook page attracting thousands of enthusiastic children across the country.

The programme was conducted with the support of Sri Lanka Insurance Minimuthu Education Plans to inspire the younger generation to achieve their dreams. The Minimuthu Education Plan provides financial assistance for children to pursue their dreams setting a strong foundation for child’s future.

The first session of the series “Super Parents”, an informative discussion on child education, mental health and nutrition was held for parents on 1st of October with the participation of Ms.Christine Jayakody Psychologist, Mr.Upali Ginasekara former Principal of Royal College Colombo and Principal of Polymath College, Dr.Sujeewa Wickramasinghe Nutritionist and Mr.Amintha De Silva Visionary Guru. The programme was well received by parents participated and the programme was followed by a Q & A session where many important issues were discussed regarding the education, health and wellness of children.

The other sessions of Minimuthulanthaya was held during the weekend allowing children as well as their parents to enjoy a quality time together. “The Artist” session and “The Entertainer” session was conducted live in both Sinhala and Tamil mediums teaching and allowing children to express their talents in drawing and creativeness.

The Mastermind session was conducted to interact with masterminds with knowledge about mathematics, science, history, general knowledge and various other fields.

The Computer Wizard session was the main attraction of the whole series as many kids with avid interest towards computer programming joined the session to learn programming.

The sessions were concluded asking the participants to submit their own creative work to stand a chance to win valuable gifts from Sri Lanka Insurance and is receiving tremendous response in return.

Continue Reading


BoardPAC certified one of Asia’s Best Workplaces by Great Place to Work



BoardPAC Chief Operating Officer Mr Rajitha Kuruppumulle (right) and Head of Operations & Systems Mr Buddhika Abeygooneratne with the Great Places to Work award and certificate

BoardPAC, the Sri Lanka-based multinational board meeting automation solutions company, reached another milestone recently when it was featured for the first time in the prestigious Best Workplaces in Asia 2021 list – Small and Medium category, published by Great Place to Work.

A company news release said this recognition came hot on the heels of BoardPAC being certified as a ‘Great Workplace’ by Great Place to Work in Sri Lanka for the third consecutive year in 2021.

“The internationally acclaimed list follows strict criteria in acknowledging the best of the best in terms of workplaces in the Asia region. BoardPAC’s recognition is based on extensive ratings provided by its employees in an anonymous survey and a culture assessment conducted by the Great Place to Work organisation, and upon having achieved the globally accredited cut-off scores,” the release added..

Commenting on being placed on this esteemed list, BoardPAC’s Chief Executive Officer, Ms Lakmini Wijesundera stated: “We are honored to be selected into the Asia’s Best Workplaces List. Our team’s happiness is key to our success. The well-crafted GPTW Survey helps us with an accurate analysis of employees’ sentiments. The emphasis by GPTW on Trust, Pride, Camaraderie, and Care has been valuable in our efforts to improve continuously. GPTW has become a hallmark of our positive work culture. A big thank you to our team for the contribution to this great culture.”

Great Place to Work provides the benchmarks, framework, and expertise needed to create, sustain, and recognise outstanding workplace cultures, and is the global authority on high-trust and high-performance workplace cultures. This process is carried out via proprietary assessment tools, advisory services, and certification programmes, including a list of best workplaces and workplace reviews. The Best Workplaces in Asia 2021 list can be viewed at

BoardPAC is recognised for driving simple, secure, sustainable, and experiential communications for Board and Executive members. BoardPAC serves a host of fortune 500 companies worldwide, with over 50,000 users globally and a presence in over 40 countries.

Leading Indian corporations such as the Bombay Stock Exchange, Power Grid Corporation of India, IDBI Bank, Container Corporation of India, and LIC Housing Finance Limited are already users of BoardPAC. It has also been deployed by some of the strongest brands across the world such as the Axiata Group of companies, Deloitte and Maxis among others. BoardPAC clientele span the largest banks and sector leaders in the Asia Pacific region such as Prudential, Petronas, Maybank, Hong Leong Group, MSIG, BSN, Bumi Armada, RHB Banking Group, Affin Bank, and Bursa Malaysia – the stock exchange of Malaysia.

In Sri Lanka over 150 of the top corporate entities including John Keells, SriLankan Airlines, MAS Holdings, Bank of Ceylon, Commercial Bank, Hemas, Carsons, Softlogic, Sri Lanka Telecom, Sampath Bank, National Savings Bank, Nations Trust Bank and Merchant Bank of Sri Lanka as well as the SEC and Colombo Stock Exchange use BoardPAC.

Continue Reading


UN-recognized pioneer leads Hayley’s Fabric’s greening thrust



Leonie Vaas, a chemical engineer who’s the Manager of Sustainability and Innovation at Hayley’s Fabrics made history last June when she was selected from thousands across the globe to be designated as one of just 10 Sustainable Development Goal (SDG) Pioneers by the United Nations (UN) Global Compact for 2021.

With an extensive range of experience in green house gas (GHG) reduction and ensuring carbon neutrality, life cycle perspective of products, plant and process improvements with sustainable technologies and textile chemical management, Leonie has paved the path for local sustainability champions to be recognized on a global platform, a news release from Hayley’s Fabrics said.

She primarily focuses on five key areas at Hayleys Fabric, including driving efforts in reducing GHG emissions, water preservation, improving efficiency with sustainable solutions for effluent treatment plants, building and training sustainability teams, as well as developing and applying new processes for ‘better and greener’ products, the release said.

Sustainable business starts with a sustainable culture

“I’ve always had a passion for the environment, and so from the start, I gravitated towards work in sustainability. Once I joined Hayleys Fabric, I was challenged and supported to link sustainability with innovation properly. Here, the opportunity to have a continuous learning experience, to be at the very forefront of sustainable innovation and part of shaping a greener future – is tremendous.

“We have a strong leadership commitment that all employees evenly match, and ultimately, that culture and enthusiasm to take the lead on sustainability are what drives our success. Sustainability at its core is driven by the higher management and we were able to come this far with the support and guidance of our CEO and Managing Director Rohan Goonetilleke. Because of this unique dynamic, we were able to rapidly commercialise our sustainable innovations, which gave me a chance to showcase what Hayleys and Sri Lanka have to offer the world. When you build the right culture, everything else flows from there,” Vaas said.

A team committed to sustainable innovation

True sustainability is about more than a single innovation. Leonie cites a host of extraordinary initiatives implemented by the Hayleys Fabric team collectively aimed at securing global leadership in sustainable textile manufacturing.

“We treat 100% of the water used for production to maintain strict compliance with certified and audited commitments on Zero Discharge of Hazardous Chemicals. This standard is recognised globally, beyond Sri Lanka’s strict national regulations,” Leonie noted.

As a signatory to the Science-Based Targets initiative (SBTi) to reduce greenhouse gas emissions and limit global warming at 1.5°C, Hayleys Fabric has already cut its carbon footprint by 15%. This was achieved by installing the largest private sector rooftop solar power system in Sri Lanka at the company’s state-of-the-art manufacturing facility in Horana. With 9,000 solar panels installed across 18,000 square metres, the system has contributed 4.5 Mw to the National Grid since June 2021.

Leonie finds the company’s future focus on re-engineering its value chain truly inspirational. “Our team is looking at substituting production supplies with recycled polyester, organic cotton, and other bio-degradable materials as well as augmenting production capabilities to create textiles from yarn comprised of recycled plastic.”

The innovation team recently launched an app to enable end-to-end traceability for its recycled PET fabrics, mostly supplied locally to Sri Lanka’s largest apparel manufacturers. This will allow local producers and global retailers to tag individual pieces of clothing with a QR code, which customers can scan to learn exactly how many discarded PET bottles were used to create the item and exactly which part of Sri Lanka, the bottles were collected from.

Hayleys Fabric also connects employees with key sustainability issues through culture building, webinars, and training and awareness building workshops.

“Keeping key issues like waste segregation, pollution, and energy efficiency top of mind, ensures that the entire workforce stays engaged with the company’s quest to become a global leader in sustainable textile production. As local leaders, we must always continue to find ways to become global pioneers.”

Continue Reading