United National Party (UNP) General Secretary Tissa Attanayake says agreements similar to the CPC’s oil hedging deal are signed in every part of the world, but such unfavorable deals are not signed anywhere.
Sri Lanka’s state-run oil company has been ordered to pay nearly $162 million plus interest for non-payment of dues to Standard Chartered Bank by a London court.
The losses suffered by the Ceylon Petroleum Corporation (CPC) due to the annulment of the hedging deal are not limited to this, the Kandy District MP said.
Now the CPC, which lost an appeal against the court ruling, is preparing to re-appeal and spend more millions in the process, he charged.
Attanayake stated that the hedging issue should have been discussed and resolved in the start, but instead has been dragged to court and now the public has to pay for it.
“The government has no other solution other than that,” he said adding that the masses are already facing hardship.
“Why should the people pay these dues,” he inquired while pointing out that the officials who signed the deal and those who ordered it should be made responsible.
