Read in Sinhala Read in English Read in Tamil
            LEN Radio   |   Len Video   |   Len Forum  
 
 
Home Features About Us Advertising Classified Gallery's Feed Back Business   Download Fonts
 
 

 
CID questions CPC secretary of director board regarding hedging
(Lanka-e-News, 30.May.2009, 6,00 PM) The Criminal Investigation Department (CID) that is investigating the hedging deals that caused billions of rupees loss to the nation recorded a statement from the secretary of the director board of the Ceylon Petroleum Corporation (CPC) yesterday (29).

The Supreme Court has ordered the hedging agreement be nullified. However, US $ 120 million has been paid to the relevant bankers per se this agreement. Further US $ 320 million is yet to be paid.
CPC suffered a heavy financial loss due to this agreement. The debt burden of the CPC is Rs. 83 billion now. CPC has now reduced the import of crude oil and refined petroleum due to this situation. Lanka Indian Oil Corporation (LIOC) the competitor of the CPC is profiting immensely in this context.

Meanwhile, the employees of the CPC are discussing about a rumor that the ex-Chairman Asantha de Mel is to be re-appointed to the post. He is a privileged person under the present rule. He continues to maintain the status despite he was reprimanded by the Supreme Court.
Although you recieve this free news service, LeN bears expenditure.
If you are satisfied with this, contribute your donation.
 
 
Comments ( 2 )    |   This Article Viewers ( 1155 )    |   E-Mail This Article    |    Print This Article
Then, if the goverment is involved in these sorts of irregular activites with exposing to the Parliament, how we trust they are going to build the nation. I do not mean because this situation UNP be given power. They are the peopl who introduced a large scale corruptions during Mahaweli time. These corruption should be given more publicity in newspapers. In good governance, no opportunity for nepotism.
Posted By: Kavin gunaratne
If these 'priviledged' persons are allowed in again, the country will never be allowed to raise its head. Let us hope that the President stands firm to eradicate these types of activities, however good 'supporters' they may have been in the past. People heard him say that number one is country, number two is country and number three is also country. Now is the time to put these words to action.
Posted By: Nandi
Post a Comment
Full Name
E-Mail Address
Contact Num
Massege
*
* Not for Publishing
* Not for Publishing
*
*   Required information
 
 
 
 
Your Ad Here