‘CPC concession only for this year’

Suraj A Bandara

Petroleum Industries Minister Susil Premajayantha said that furnace oil will be provided to the Ceylon Electricity Board (CEB) at a concessionary price of Rs 40 per litre only for this year.

A furnace oil litre costs Rs 82 at present.

The Ceylon Petroleum Corporation provides furnace oil at a concessionary rate since the Treasury has agreed to write off losses incurred by the Corporation, he said.

The Ceylon Electricity Board and Treasury and Petroleum Industries Ministry signed an agreement last September to supply furnace oil to the CEB on a condition that the cost will be paid by the Treasury.

The CEB is in debt of Rs 52 billion to the Ceylon Petroleum Corporation as at December 31 of last year. The Treasury has agreed to settle that amount too, he said.