News
Thanks to its generosity to gas station owners, CPC bleeding to death, says FSP
The Ceylon Petroleum Corporation (CPC) will lose about Rs. 25 billion in the coming 12 months at current rates, if it does not adjust the commission paid to gas station owners, Education Secretary of the Frontline Socialist Party (FSP), Pubudu Jagoda, told The Island yesterday.Jagoda said that the CPC made losses, mainly due to the bad decisions of its management. “For example, the CPC gives a commission to the gas station owners. Until mid-2019, CPC paid 2.5 percent of the price of a litre of fuel as a commission. So, for example when a litre of 92 octane petrol was Rs. 117, the gas station owner made a commission of Rs. 2.92. They insisted that the percentage was not enough and in July 2019, and it was increased to 3%.
The CPC also decided to place upper and lower caps because they didn’t want to pay colossal amounts as commissions, in case fuel prices went through the roof,” Jagoda said.
The CPC also decided that for Octane 92 petrol, the upper cap would be Rs. 167 and the lower cap would be Rs. 117 . “So, no matter how much the price increased, the CPC only pays three percent of Rs. 167 as the commission per a litre of 92 Octane petrol. For Octane 95 petrol, the upper cap would be Rs. 184 and the lower cap would be Rs. 128. For auto diesel, the upper cap would be Rs. 121 and the lower cap would be Rs 95. For super diesel, the upper cap would be Rs. 145 and the lower cap would be Rs. 110,” he said.Jagoda said that fuel prices had been revised in December 2021. The price of 92 Octane petrol was increased to Rs. 177 a litre and 95 Octane to Rs. 207 a litre.
“Instead of capping them at 167 and 184, the CPC paid three percent of the new prices as commission to gas station owners. On 18 January 2022, the Deputy General Manager, Finance, figured out something was wrong and wrote to the General Manager asking him what could be done. The General Manager sent a circular to gas stations on 10 March 2022, saying that the CPC had overpaid them and asked the owners to return the amount. Four gas station owners met the Minister in charge, Gamini Lokuge, who insisted that there was no need to pay and buoyed by that gas station owners went to court and got an injunction against the circular,” Jagoda said.
At that time, the CPC was losing Rs. 80 million a day as a result, Jagoda said. Despite that, the CPC lawyers did not appear on the first Court date, and on the second Court date, they agreed to extend the injunction.
“On the third day, the injunction was lifted but the CPC did nothing to collect the money. The problem is many ministers, and senior officials, have gas stations and they profit from this. Still the CPC pays extra to gas station owners. If this is stopped, the CP can reduce the prices of 92 Octane petrol by Rs. 9.17 , 95 Octane petrol by Rs. 12 rupees, auto diesel by Rs. 9.27 rupees, and super diesel by Rs. 10.95. The CPC pays Rs. 67.9 million extra a day to gas stations. If this continues, at the current price, and volume, the CPC will lose 25 billion in the next 12 months,” Jagoda said.
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
