Litro Gas Lanka Ltd, Executive Chairman Shalila Moonesinghe strongly denied claims made by former parliamentarian Bandula Gunawardena of privatization of the Litro Gas Lanka Ltd. Speaking to The Nation, the Chairman said that Litro Gas Lanka Ltd is a profit making company and there is no need for them to privatize the company.
“These claims made by Gunawardena is nothing but a fabricated lie and I completely deny any sort of privatization with regard to Litro Gas Lanka Ltd,” said the Litro Gas Lanka Ltd Chairman.
Further elaborating on the issue, the Chairman said that the policy of theirs is not to privatize any part belonging to the company and that there are no plans to privatize the company.
Finance Minister Ravi Karunanayake had earlier refuted the claims made by Gunawardena and had said that Litro Gas Lanka Ltd, a household name in the country will never be privatized. He had also mentioned that the government would take every effort to pass the benefit of the market fluctuations to the consumers as previously done twice within the six months of the new government came in to office.
The Executive Chairman of the Litro Gas Lanka Ltd also revealed that it was the previous management that purchased LP gas without even calling for tenders at higher price for the last two years from a single supplier.
According to the Chairman of Litro Gas Lanka Ltd under the existing procurement process, which is under negotiation will be possible to negotiate the best market price which is around USD 34.25 less than the previous negotiated price of USD 140 and the cumulative savings from the gas supplies to Litro Gas Co in the next two years is expected to exceed Rs.1,716 million (USD 13 million).