LIOC Petrol Stations will be acquired! – Fowzie
The government has threatened to acquire all Lanka Indian Oil Company fuel stations in a bid to reduce the impact of losses incurred by diesel sales at Ceylon Petroleum Corporation sheds.
Petroleum Resources Development Minister A.H.M. Fowzie responding to a statement made by JVP Parliamentarian Anura Kumara Dissanayake on June 5th told parliament the government lost Rs. 30 on the sale of a liter of diesel and this loss was amplified due to more consumers using CPC Petrol Station to avoid higher diesel prices at LIOC Petrol Stations. He pointed out that A liter of diesel is sold at Rs 130 at LIOC outlets while it is sold at Rs. 120 at CPC Petrol Stations.
Minister Fowzie said the government had also lost possible income generation from the Lubricants and LP Gas sectors, which had been privatized by the UNP regime. He said the government had plans to branch out into LP gas and Lubricants to increase income, while also increase oil storage and purification capacity, with the help of Iran.
source: Lanka Truth
