CPC to export lubricants to Bangladesh within two months

Ceylon Petroleum Corporation (CPC) Chairman D.J. Rajakaruna stated that that plans are in place to begin exporting lubricating oil within the next two months. 

He mentioned that Bangladesh has already placed orders for this purpose.

The CPC Chairman, while addressing a function of the Ceylon Petroleum Corporation Employees’ Union, further added, “Until now, our lubricant oil industry had completely collapsed. I am happy to say that we have been able to double our production during this period. I am also pleased to announce that production will reach its maximum in two months. During that time, we will begin exporting CEYPETCO lubricants abroad. We have already received an order from Bangladesh.”

Rajakaruna further noted that the CPC has now collaborated with airlines on the supply of aviation fuel and reduced the cost to below that of the region. He added that as a result, the aviation fuel trade is now increasing at a faster rate than last year.

Regarding the issue of employees’ annual bonuses, Rajakaruna explained, “There is a current issue regarding whether or not the bonuses can be given. I have no intention of halting the bonus, but there are laws and circulars that need to be followed. I have looked into how we can give the bonuses in accordance with those regulations.”

“Approval from the Treasury is required, and it also needs to be submitted to the Cabinet. We are working on the necessary processes to carry out that procedure. Unfortunately, we cannot complete it within this month.”

Additionally, the CPC chairman reassured the employees that the bonus payments will not be halted. He clarified that although they couldn’t provide the bonus this month, the New Year allowance of Rs. 50,000 would be provided as a temporary solution.