Jan 22, 2020

CPC owed Rs 154 billion in unsettled loans

The Ceylon Petroleum Corporation (CPC)  has informed Power and Energy Minister Mahinda Amaraweera that Government institutions and others owe the CPC Rs 154 billion in outstanding loans as at December 2020.

A report forwarded by the CPC to Minister Amaraweera states that the Ceylon Electricity Board (CEB) owes most to the CPC, with Rs 86 billion in unsettled loans. The report notes that SriLankan Airlines owes Rs 48 billion to the CPC. Meanwhile, SriLanka Railways, Sri Lanka Transport Board (SLTB) and the Road Development Authority (RDA) owes the CPC a combined amount of Rs 49 billion.

Independent Power Producers owe Rs 10 billion while the Three Armed Forces owe Rs 1.5 billion to the CPC, the report adds.