Cabinet paper on amending CPC Act under fireAmending law essential to attract investors: GammanpilaBy Pamodi WaravitaA total of eight trade unions attached to the Ceylon Petroleum Corporation (CPC) had met yesterday (7) and decided to oppose the proposed amendment to the CPC Act No. 28 of 1961 (as amended), which would allow the Minister of Energy to issue licences to any private party to import, refine, market, supply, produce, mix, and distribute petroleum products. It should also ensure that the sale of petroleum products takes place through the CPC,” Palitha noted. “We are unconditionally opposed to any amendment that would allow private parties to import, distribute, or market petroleum products because bringing such an amendment would abolish the CPC Act. In order to invite investors on a BOT mechanism, we would have to amend the CPC Act,” Gammanpila further said.

Source: The Nation June 07, 2021 19:04 UTC