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* Sri Lanka Marxists accuse government of gaining unfair profit from petroleum sales
Sun, Feb 24, 2013, 10:46 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 24, Colombo: Propaganda Secretary of the Marxist party Janatha Vimukthi Peramuna (JVP) Vijitha Herath says the government is gaining an unfair profit from fuel sales.

He pointed out that the state-owned petroleum supplier, Ceylon Petroleum Corporation (CPC) could sell a liter of petrol at Rs. 120 inclusive of all taxes, port charges, production costs and refinery expenses.

The JVP MP says the price of a liter of petrol is Rs. 84.18 when disembarked and the government is gaining an unfair profit of Rs. 42 a liter. A liter of diesel is sold at Rs. 112 although it could be sold at Rs. 108, the MP further said.

Herath added that the privately held Lanka Indian Oil Corporation (LIOC) also gains a profit of Rs. 45 from a liter of petrol.

Petroleum Minister Anura Priyadarshana Yapa said the CPC lost Rs. 89 billion due to the subsidies on fuel. He said the CPC even with the recent hike still subsidizes Rs. 10 rupees on each liter of diesel.

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