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CPC To Be Sold?

05/07/2010 14:18:00 Colombo News Desk CND

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It has been revealed that Ceylon Petroleum Corporation loses more than 100 million rupees as a result of not restoring one of its Petroleum Storage Complexes. The employees of Ceylon Petroleum Corporation state that even though the evaporation is a usual occurrence in petroleum storage, this loss is due to not restoring one of its petroleum Storage complexes.

At the moment Ceylon Petroleum Corporation is considered the most inactive institute in the state sector. Despite Mr. Hary Jayawardana being appointed as the Chairman of Ceylon Petroleum Corporation (CEYPETCO), no one has been appointed as the Managing Director yet. Those employees further say that the Petroleum Corporation is in a great crisis at present. Due to this reason there were continuous losses in the recent past. As a result of this crisis the petroleum corporation will have to be sold to India or a different country soon they allege.

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