Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* 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.



ColomboPage - Recent 10 Stories
Former Sri Lankan President's son Yoshitha Rajapaksa further remanded
-- [2 hours ago]
Sri Lanka Navy assists Coast Guard to arrest 12 Indian fishermen
-- [3 hours ago]
Sri Lanka's new Attorney General takes oaths
-- [3 hours ago]
Investigations on fraud, corruption are being conducted properly and systematically, PM says
-- [3 hours ago]
Sri Lanka stock exchange issues request for suppliers of Central Counter Party
-- [5 hours ago]
Sri Lanka to review former government's Airbus deal, US$ 12 million penalty if cancelled
-- [5 hours ago]
Human Rights Watch criticizes former Army commander's appointment to parliament
-- [6 hours ago]
US Bureau of Democracy, Human Rights and Labor funds $ 500,000 grant for Strengthening Investigative Journalism in Sri Lanka
Former Chief Minister Pillayan further remanded till February 24
Matthew Abeysinghe breaks Julian Bolling’s record for most gold at SAG

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.