Business
New regulatory body to be established to prevent fuel shortages: state minister
by Sanath Nanayakkare
A new regulatory body under the purview of the power and energy ministry would be established in the near future whose duties will include the ensuring of uninterrupted fuel supplies at all the filling stations in the country, leaving no room for any more fuel queues, D.V. Chanaka, State Minister of Power and Energy said yesterday.
He made this remark to the media at a ceremony where Sinopec Lanka Energy (Pvt) Ltd inaugurated its first renovated filling station at a grand re-opening ceremony at Trans Lanka Filling Station in Nawagamuwa.
The event was witnessed as a major milestone on the company’s first anniversary since entering into Sri Lanka.
Speaking at the event, the State Minister said,” We have already given Sinopec the mandate to supply oil to 150 fuel stations owned by Sri Lankan businesspeople. This filling station at Nawagamuwa has been fully renovated to the best global standards, and I identify it as one of the top 3 filling stations in Sri Lanka. In the agreement that we have entered into with Sinopec, we have agreed that all these 150 fuel stations will be upgraded to equal the best standards of fuel stations in China. In addition to that, another 50 fuel stations are scheduled to be opened. However, as the infrastructure and operational standards of these stations are very high, we have agreed upon a timeframe of three years for the completion of these fuel stations. It is going to be such a secure system,” he said.
“We know there are concerns among consumers about the quality of fuel they get at filling stations. But state-of-the art filling stations like this one in Nawagamuwa would be a trend setter in the best global standards applicable to filling stations. In the future, as this trend expands, it is all going to be automated and it will be possible for us to monitor from the head office in Colombo the quality of fuel supplied to the consumers as well as whether the consumers get the right quantity of fuel for the money they paid.”
“Meanwhile, the government is going to set up a new regulatory body according to which each and every fuel station must maintain 50% stock at any given time. We will be able to monitor that from the head office without having to visit them. We are going to do this to ensure that no fuel shortage would occur again and to eliminate the formation of queues for oil.”
“Other two foreign players who have agreed to enter the market will also set up their stations on a par with Sinopec’s standards and the Ceylon Petroleum Corporation also will up its game in the energy sector to effectively face the emerging competition,” he said.
The minister thanked Sinopec for supplying the cheapest oil to Sri Lanka with a one-month credit line during the tough economic times Sri Lanka experienced during which time 25 regular oil suppliers ditched Sri Lanka.
Ms Wang Haini, the General Manager of Sinopec Energy Lanka said,” Looking ahead, Sinopec plans to renovate the remaining 149 filling stations over the next 3 years and explore opportunities for 50 brand new stations. A vocational training and qualification grade system to fuel station staff will be built to help develop a more skilled workforce for the energy sector. A comprehensive customer service center, which will be equipped with support in multiple languages, is also to be introduced to effectively address inquiries from customers and dealers alike.”
‘Sinopec’s efforts in Sri Lanka are part of its broader commitment to enhancing the energy landscape through strategic investments in infrastructure and human capital development. Sinopec will be devoted to shaping high standards in Sri Lanka’s Petroleum Industry under the guidance of Ministry of Power and Energy and empowering Sri Lanka,” she said.
Himaransi Gamage, dealer/ director at Translanka Enterprise Pvt Ltd told The Island that the renovation of their filling station was done at a cost of more than Rs.100 million and the total cost was borne by Sinopec.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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