Rs. 50 million allocated for compensations
The Ceylon Petroleum Corporation has suffered a loss amounting to a staggering 487 million Rupees due to the importation of 20,000 metric tonnes of sub standard petrol, the three-member Committee appointed to look into the blunder has revealed.
The report also said the loss borne by the unused stock of 2,565 metric tonnes of petrol alone amounted to Rs. 435 million. It said they could not be sold due to the inferior quality.
The committee said more than 50 million rupees would have to be allocated as compensation to be paid in lieu of vehicles that were damaged due to the use of low quality petrol while three million rupees had to be spent to repair petrol pumps at filling stations.
In a bid to minimize the huge loss caused to the CPC by this blunder, the committee has recommended to convert the remaining 2,565 metric tonnes of petrol into naphtha and supply it to the Ceylon Electricity Board for the generation of power. It was suggested to sell it to the Electricity Board at the rate of Rs. 60.80 a litre, thus saving 12 million rupees to the CPC.
Due to the continuous complains from the public regarding the damage caused to vehicles due to the use of low quality petrol, the corporation has stopped selling the rest of the inferior petrol on the directions of the Petroleum Products Minister.
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