A Cabinet paper proposing the handing over of 1690 filling stations belonging to the Ceylon Petroleum Corporation (CEYPETCO) to qualified foreign companies is due to be presented to the Cabinet this Monday (27) revealed Energy Minister Kanchana Wijesekara, speaking to a briefing yesterday (26).
The Cabinet paper has proposed to hand over CEYPETCO filling stations to foreign companies on the condition of importing fuel to Sri Lanka under a credit scheme for at least six months or a year, the Minister noted.
The Indian Oil Company (IOC) has requested permission from the Sri Lankan government to establish 50 new filling stations in the country, Wijesekara went on, adding that discussions are underway to hand over several CEYPETCO-owned filling stations to the IOC as well.
MIAP
