Petroleum Minister claims CPC has begun making profits

CPC1212The Minister of Petroleum Resources Development Chandima Weerakkody claims the Ceylon Petroleum Corporation (CPC) has begun making profits.

He said that the CPC, which has been a loss making Government institution, has earned profits over the past six months.

Weerakkody said that over the past six months the CPC earned nearly Rs. 46.5 billion in profits.

Speaking at an event in Habaraduwa today, the Minister said that the Sri Lanka Freedom Party (SLFP) was against the proposed Value Added Tax (VAT).

He said that the SLFP later had talks with the United National Party (UNP) and reached an agreement to amend the VAT and submit a new Bill. (Colombo Gazette)