Petroleum corp assets, accounts face auditing

COLOMBO: Assets and accounts of Ceylon Petroleum Corporation would be audited shortly to get a correct picture of the agency, Power and Energy Minister Kanchana Wijesekera said.

“I have got different data at different meeting,” Wijesekera told a forum organized by JAAR Corporate Solutions and supported by the Friedrich Naumann Foundation for Freedom.

“The CPC, or its mananagement or any other government institution for that matter has an accurate idea of the assets and liabilities.”

Separately, Wijesekera has also called for a police investigation on procurement following public complaints on high prices paid to to import fuel compared to global markets and competitor Lanka IOC.

The prices were high partly due to lack of interest for competitive bids following a default and the payment of risk premiums to other suppliers on unsolicited bids.