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* Consideration of proposals to give about half of the 1,250 Ceypetco filling stations to the private sector commenced
Thu, Sep 22, 2022, 11:13 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 22, Colombo: The Ministry of Power and Energy says that a part of the 1,250 filling stations owned by the Ceylon Petroleum Corporation (Ceypetco) is expected to be handed over to private companies by next November.

Minister of Power and Energy Kanchana Wijesekera said a progress review meeting was held Wednesday to discuss the EOI (Expressions of Interest) published to invite suppliers to participate in the petroleum industry in Sri Lanka.

Minister Wijesekera revealed that 24 companies have submitted proposals in response to the call for the EOIs made by the Ministry.

The Ministry of Power and Energy in July called for expressions of interest from established companies in petroleum producing countries using their funds for importation, distribution and selling of petroleum products in Sri Lanka on long-term agreements.

According to the Minister, 24 companies from the United Arab Emirates, Saudi Arabia, the United States, China, India, Russia, the United Kingdom, Malaysia, Norway and the Philippines have submitted proposals.

The Minister said suitable suppliers out of the 24 companies that has expressed interest will be selected to import, distribute and conduct sales of petroleum products utilizing part of the 1250 fuel stations that are managed by Ceylon Petroleum Corporation currently.

Suitable suppliers will be finalized by November to conduct operations in about 600 CPC managed fuel stations, the Minister said.

Meanwhile, Minister of Power and Energy Kanchana Wijesekera says that the articles and sections in the Proposed Petroleum Products (Special Provisions) amendment Bill that are against the constitution as determined by the Supreme Court will be amended to cease the inconsistencies and submitted to the parliament as soon as possible.

Minister Kanchana Wijesekera said this in a tweet after Speaker Mahinda Yapa Abeywardena informed Parliament of the Supreme Court decision.

Speaker Mahinda Yapa Abeywardena informed Parliament today that the Supreme Court has determined that the Petroleum Products (Special Provisions) Amendment Bill is inconsistent with the Constitution and must be passed by a special majority as well as a referendum. The Supreme Court has also informed that the bill can be passed by amending and adding some clauses to the bill.

 

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