Treasury pays Rs. 25 billion owed by SriLankan to CPC
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- Created On Sunday, 14 July 2013 13:08
- Category: General
The Treasury has been compelled to pay a majority portion of the payment due to the Ceylon Petroleum Corporation (CPC) by SriLankan Airlines.
The Treasury has paid Rs. 25 billion of SriLankan Airline’s Rs. 36 billion dues to the CPC.
CPC sources have said a Treasury bond would be given to the CPC. SriLankan would however have to pay the arrears to the Treasury.
The cash strapped SriLankan Airlines has signed a deal to buy a fleet of 10 Airbus aircraft costing more than Rs. 315 billion.
The CPC has for some time being trying to recover monies owed by SriLankan Airlines to it.
Civil Aviation Minister Priyankara Jayaratna has confirmed to the media that after several rounds of discussions, the Treasury had agreed to pay Rs. 25 billion while the national carrier would have to pay the balance Rs. 11 billion.
CPC sources have said a Treasury bond would be given to the CPC. SriLankan would however have to pay the arrears to the Treasury.
The cash strapped SriLankan Airlines has signed a deal to buy a fleet of 10 Airbus aircraft costing more than Rs. 315 billion.
The CPC has for some time being trying to recover monies owed by SriLankan Airlines to it.
Civil Aviation Minister Priyankara Jayaratna has confirmed to the media that after several rounds of discussions, the Treasury had agreed to pay Rs. 25 billion while the national carrier would have to pay the balance Rs. 11 billion.
