The Ceylon Petroleum Corporation (CPC) says it will incur a loss of around Rs.11 billion by the end of February by selling fuel at the current rates despite the rising fuel prices in the world market.
CPC Chairman Sumith Wijesinghe said a request has been made to the Finance Ministry to either grant permission for an increase in fuel prices or a tax relief for fuel.
He said Ceylon Petroleum Corporation (CPC) has to bear a heavy loss as a result of maintaining fuel prices at the existing rates under the current circumstances.
