Sri Lanka Minister dismisses opposition's claims of privatizing Petroleum Corporation

Sri Lanka's Minister of Petroleum Industry Susil Premajayantha has dismissed the opposition United National Party spokesman's allegation that the government is planning to convert the Ceylon Petroleum Corporation into a private enterprise.

UNP Spokesperson and parliamentarian Gayantha Karunatileka told a press conference yesterday that the government was looking at making the CPC, which is currently managed by the government, into a company to cover the loss incurred by the Hedging Agreement.

Karunatileka asked the Petroleum Minister to make a clear public statement on the government's stance on the CPC and whether there are any moves to convert it into a company.

Minister Premajayantha has asserted that it is the government's firm policy not to privatize any government institution but to reacquire the State Institutions that had been sold to the private sector or foreign firms.

The government has recently reacquired the Insurance Corporation, national career SriLankan Airlines,and the Shell Gas Company, the Minister has pointed out.

The Minister has urged the opposition not to mislead the masses with baseless allegations.