Discussion : Is it the right time to reduce energy prices??

Rapaport

Rapaport

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I hope there are no reductions in fuel prices. CPC is in heavy debt and the govt should use the opportunity to cover some losses. Question

People and industries are adjusting to the prices which were raised in March and reducing the prices will create more disaster.

Govt will then borrow more and CPC will not turn around ever. Evil or Very Mad

Also Global oil prices are too volatile and we must stick to this high fixed price since we do not use a formula system. Constant meddling of prices disturbs business planning as well.

Two related articles to read showing continuing heavy govt borrowing and CPC losses: bom

http://www.lbo.lk/fullstory.php?nid=1964553873

http://www.lbo.lk/fullstory.php?nid=1536980373

We need to improve our economy by reducing govt debt and stop manipulation of energy prices, rupee/dollar balance and interest rates. (All this is done to keep a few people in power repeatedly over the last 50-60 years). We might have to sacrifice some growth. With this if the Euro crisis turns around then foreigners may look at the attractive CSE in a strengthening economy.

Opinions appreciated/welcome!

Cheers!

Kithsiri

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Let the Market decides the price. Very Happy

K.Haputantri

K.Haputantri

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Dear Rapaport, I have no reason to disagree with you if all these resources are in the hands of trusted people. Corruption and wastage are rampant with almost all checks & balance systems neutralized purposely & opposition in disarray. There is no hope of alternative group being formed in the forseeable future.

Redbulls · 4 CPC NOT AUDITED SINCE 2008 - JVP Mon Jun 11, 2012 3:36 pm

Redbulls

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The Janatha Vimukthi Peramuna (JVP) today claimed that the Ceylon Petroleum Corporation (CPC) has not conducted an audit in over 4 years and that it is the reason the CPC complains of continues losses.

JVP General Secretary Tilvin Silva stated that the Petroleum Corporation repeatedly claims its incurring losses, however there is a certain confusion in the numbers put forward by it. “They are unbelievable,” he said.

The reason for this is because the CPC has not conducted a clear audit regarding its expenditure and income since 2008, he stated at a press conference.

Therefore no one can confirm whether these figures are accurate or not, Tilvin Silva expressed “there are serious doubts.”

He also claimed that Petroleum Industries Minister, Susil Premajayantha is declaring that the CPC is suffering losses, keeping with these doubts.

Silva accused that, although the government says its waiting for global oil prices to further decline in order to reduce fuel prices, the government is actually waiting till oil prices increase.
http://www.adaderana.lk/news.php?nid=18398

Deva

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Rapaport, is it logical what you say. Should the general public pay the consequences for corruption, theft and mismanagement of CPC. First they should put a stop to these. Else, everyday people will be paying the price for their failures.

Rapaport

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Deva,

I appreciate your concern. However this an open discussion and i have just voiced my opinion. It may not be correct solution or way to go about. Will help us know what most think is the right way forward. Wink

Cheers!

Whitebull

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I think oil prices should be reduced accordingly.Otherwise the extra profit generated from world fuel price reduction may go to pockets of few people.

If prices are reduced then atleast general public will be benefitted.

Backstage

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I agree with Rap in principle, but to achieve the desired result many more things will have to fall into place. The very recent bold move by Estonia to correct economic imbalance seems to have worked. And it was done with public consensus. They managed to convince people to bite the bullet and survived to deliver the results. NM in the 70's also achieved some thing, but it was such a bumpy ride that people dumped him and got JRJ dumped on themselves (ourselves). Vision , foresight and political courage is needed. But we got to start somewhere and chip away.
I believe in miracles.... especially in small places.

UKboy

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I also think prices should not be reduced.
We all know how corrupted both CPC & CEB. Also solving the issue will not happen overnight. Especially when one of the most laid back ministers in the cabinet handles CPC.
Also I don’t think current low prices last for long. Trim the losses should be the key at the moment.

Kithsiri

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UKboy wrote:Trimming the losses should be the key at the moment.

If that is the case then none will utter a word but unfortunately this is not happening ! Shocked

Backstage

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I have an ordinary lay persons grasp of economic stuff, what I glean from what classical economist say, most fingers seem to point at the soft peg. To change that, it will require political courage, same as the abolition of the executive presidency and practical meaningful devolution.

Whitebull

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Kithsiri wrote:

UKboy wrote:Trimming the losses should be the key at the moment.

If that is the case then none will utter a word but unfortunately this is not happening !

That is why oil prices should be reduced....then atleast ordinary people will be benefitted.

Malika1990

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Discussion : Is it the right time to reduce energy prices?? 297277548June-12-L

UKboy

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Malika1990 wrote:

I'm against any price reduction but this minister ah Mad

I dont know why snaka gourd (පතෝල pathola) comes to my mind whenever I read/see anything about this minister Rolling Eyes

Fresher

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Prices should be kept at a manageable level.
Public should not pay for the CPC's wastage. But, it will somehow come around to burden the public if the prices are reduced.

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Discussion : Is it the right time to reduce energy prices??

1 Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 3:00 pm

Rapaport

2 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 3:10 pm

Kithsiri

3 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 3:13 pm

K.Haputantri

4 CPC NOT AUDITED SINCE 2008 - JVP Mon Jun 11, 2012 3:36 pm

Redbulls

5 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 4:24 pm

Deva

6 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 4:50 pm

Rapaport

7 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 7:32 pm

Whitebull

8 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 10:25 pm

Backstage

9 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 11:01 pm

UKboy

10 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 11:12 pm

Kithsiri

11 Re: Discussion : Is it the right time to reduce energy prices?? Mon Jun 11, 2012 11:22 pm

Backstage

12 Re: Discussion : Is it the right time to reduce energy prices?? Tue Jun 12, 2012 8:15 am

Whitebull

13 Re: Discussion : Is it the right time to reduce energy prices?? Tue Jun 12, 2012 11:53 am

Malika1990

14 Re: Discussion : Is it the right time to reduce energy prices?? Fri Jun 15, 2012 1:37 am

UKboy

15 Re: Discussion : Is it the right time to reduce energy prices?? Fri Jun 15, 2012 7:01 am

Fresher

16 Re: Discussion : Is it the right time to reduce energy prices??

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