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* Sri Lanka's Petroleum Resources Minister rules out giving concessions at a loss to CPC
Wed, Feb 26, 2014, 06:43 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 26, Colombo: Petroleum Resources Minister of Sri Lanka Anura Priyadarshana Yapa has ruled out granting concessions on fuel sales at a loss to the Ceylon Petroleum Corporation (CPC).

He has said that the CPC is not an institution that can give concessions and run at a loss.

The Minister has said that fuel cannot be given for free despite the belief by some that the CPC can give fuel for free. The Corporation needs to charge for the products sold like any other state institution, he has pointed out.

According to Yapa, State institutions will operate at a loss if the products are given at concessionary rates and the public will have to bear the costs to cover the losses.

He has further noted that the CPC now charges normal fuel rates from the Ceylon Electricity Board (CEB) as well.

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