It is reported that the Ceylon Petroleum Corporation is facing a severe crisis as it is unable to find the amount of US $ 42 million (approximately Rs. 8,610 million) required to import fuel next month.
Energy Minister Udaya Gammanpila had requested the money at a cabinet meeting last week, but the sources said no solution has been found so far.
It is reported that the Minister has pointed out to the Cabinet that although the Ceylon Petroleum Corporation can find rupees, it cannot find dollars. In this situation, the import of fuel is in a serious crisis.
He has said that the Petroleum Corporation has to pay around US $ 3700 million to the two state banks. Accordingly, the Corporation has to pay the Bank of Ceylon around US $ 196 million and the People’s Bank around US $ 176 million.
