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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Emergency fuel purchases of Sri Lanka petroleum authority to be audited

Emergency fuel purchases of Sri Lanka petroleum authority to be audited

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Swift Solution
Emergency fuel purchases of Sri Lanka petroleum authority to be audited Audit%20cartoon_thumb_medium300_200
Aug 07, 2012 (LBT) - Sri Lanka's Petroleum Industries Minister Susil Premajayantha has instructed the Ministry Secretary R.H.S. Samaratunge take necessary measures to conduct an investigation into the emergency fuel supplies purchased by the petroleum authority, Ceylon Petroleum Corporation (CPC).

The Ministry has requested the Auditor General to audit the spot purchases made by the Petroleum Corporation and investigate its stock management. According to the Ministry, the Auditor General will be informed and necessary officials will be appointed to conduct the investigation. The Minister said the Auditor General will be requested to carry out the audit covering the period from August 1, 2011 to July 31, 2012.

The Ministry says it expects to provide a swift solution to the alleged import of substandard fuel. The mechanical failures experienced by a whole slew of state vehicles including state buses, trains, postal trucks and cranes at the Port Authority are blamed on the substandard diesel distributed by the CPC.

The petroleum authority last year paid compensation to over 3,000 vehicle owners whose vehicles were damaged by pumping substandard petrol distributed by the CPC. Earlier this year the CPC discovered that a stock of Jet A-1 fuel oil it imported was not up to the specifications when it inspected the shipment at the Colombo port. After raising the issue with the supplier, the CPC agreed to use the substandard stock as kerosene and the price differences were settled.
http://www.lbt.lk/news/business/2397-swift-solution

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Just joke.

I really wish Sri Lankans use their brains in next general election.

They have the right to select "pathola" ministers or not

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