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Govt. flayed for jacking up fuel prices despite Rs 120 bn profit since last Sept.
By Shamindra Ferdinando
The Convenor of ‘Samagi Joint Trade Union Alliance’ Ananda Palitha yesterday (06) alleged that the bankrupt country was being exploited to the hilt by the powers that be and external powers.
The one-time director of the Ceylon Petroleum Corporation (CPC) said that the Wickremesinghe-Rajapaksa government increased diesel and petrol prices on 30th July, in spite of unprecedented profits accrued, since September last year, while claiming there were sufficient stocks available for a period of three months.
The SJB trade union leader pointed out that retired Admiral Ravi Wijegunaratne, who served as the CPC Managing Director till the end of July, this year, was quoted as having told The Island recently that the CPC profits amounted to Rs 73 bn.
The latest price revision was announced close on the heels of the former Navy Commander’s declaration, Ananda Palitha said, adding that thanks to some intrepid persons in the CPC management he was able to obtain related information, the former UNPer said.
In a brief interview with The Island, Ananda Palitha emphasized that from Sept. 2022 to Dec .2022, the CPC earned quite staggering profits, amounting to Rs 40 bn. The situation has further improved, the former CPC employee said, adding that this year’s profits so far were estimated at Rs 84 bn.
Responding to another query, Ananda Palitha said that the CPC was no longer burdened with loans nor procured petroleum products on credit. According to him, the CPC’s unsettled loans amounting to USD 3 bn had been transferred to the Central Bank by the incumbent government.
Pointing out that the People’s Bank was the major creditor, Ananda Palitha stressed the importance of parliamentary oversight in the absence of transparency and accountability in the management process. It would be a grave mistake on the part of the government to go by the profits alone, Ananda Palitha said, urging thorough examination of the process to ensure that the consumers weren’t further burdened.
The latest price revision was announced on 30 July ahead of the arrival of the first consignment of fuel from the latest entrant to the market, Ananda Palitah said. China Petrochemical Corporation aka Sinopec would benefit by the price revision, the SJB official said. “On 30 July, CPC raised the price of 92 Octane petrol by Rs 20 to Rs 348. Octane 95 was also increased by Rs 10 to Rs 375 a litre. Super Diesel was increased by Rs 12 to Rs 358 per litre. Lanka IOC matched the CPC pricing formula,” Ananda Palitha said.
The second consignment followed and Sinopec now got around 42,000 metric tons of petroleum products here. These products included Petrol 92 Octane, Petrol 95 Octane, Auto Diesel and Super Diesel. The new supplier hasn’t been able to start distribution as stipulated in the agreement, Ananda Palitha said.
Ananda Palitha alleged that the incumbent administration took advantage of the political-economic-social crisis to pursue an agenda of its own. Having repeatedly assured that their primary intention was to ensure the continuous supply of quality fuel at competitive prices, the government called for international tenders to procure the services of recognized suppliers.
The three selected enterprises were M/s Sinopec Fuel Oil Lanka (Private) Limited, F5, Hambantota Maritime Center, Mirijjawila, Hambantota, Sri Lanka, M/s United Petroleum Pty Ltd, 600 Glenferrie Rd, Hawthorn, Victoria 3122, Australia and M/s RM Parks, 1061 N. Main St, Porterville, CA 93257, USA, in collaboration with Shell PLC. However, only Sinopec proceeded as agreed with the government as the other enterprises declined to pay USD 2 mn license fee unless they received an international guarantee in respect of the funds.
Alleging that the Chinese obviously had received favored treatment Ananda Palitha pointed out Sinopec paid USD 2 mn licence fee. Citing a range of concessions received by Sinopec, Ananda Palitha stressed that contrary to the tender procedures, Power and Energy Minister Kanchana Wijesekera subsequently through a cabinet paper granted two far reaching concessions. As a result of ministerial intervention, 1 percent royalty payments in USD had been done away with while the money raised through sales here could be taken out immediately in USD.
Ananda Palitha also questioned the decision to grant BoI status to Sinopec contrary to the tender conditions.
The outspoken trade union activist said that the Chinese entry into the retail market here should be examined against the status of the Lanka IOC operations and the continuing expansion facilitated by Indian interventions at the highest level. In spite of change of governments, Lanka IOC, since its inception here in 2003 sustained growth and received a mega boost with the agreement on Trincomalee oil tank farm finalized during Udaya Gammanpila’s tenure as the Power and Energy Minister.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
