Asia’s debacle in the making! While the Govt. is acquiring loss incurring private enterprises, the Petroleum Corporation an enterprise under the Govt. has recorded a colossal loss of Rs. 26, 922 million ! just for last year alone, State Enterprises Dept. revealed .
According to the latest reports of this Dept. this loss has engendered a financial constraint diminishing the Corporation’s working capital by 49% .By supplying ignition oil to Ceylon Electricity Board (CEB) , another Govt. white elephant , and other private power supply Institutions at concessionary rates , the CPC had incurred heavy losses. The loss suffered is to the tune of Rs. 20074 million !
The report also states that a loss of Rs. 10, 236 million has been faced owing to supply of fuel to meet the necessities of low income family members.
According to the latest reports of this Dept. this loss has engendered a financial constraint diminishing the Corporation’s working capital by 49% .By supplying ignition oil to Ceylon Electricity Board (CEB) , another Govt. white elephant , and other private power supply Institutions at concessionary rates , the CPC had incurred heavy losses. The loss suffered is to the tune of Rs. 20074 million !
The report also states that a loss of Rs. 10, 236 million has been faced owing to supply of fuel to meet the necessities of low income family members.
