🚨 CEB Takes a U-Turn on Open Bidding for Fuel Procurement 🇱🇰 ❗️

⭕ CEB cancels previous govt's open bidding plan involving CPC, LIOC & Sinopec for fuel purchases for electricity generation.

⭕ CEB reportedly strikes a direct fuel deal with CPC.

⭕According to the CEB, the CPC had not even deducted the dealer margin in previous fuel supply transactions.

⭕ New govt rejects open bidding, citing minimal price variation among suppliers.

⭕ CEB purchased 750M+ liters of fuel in 2023 — even a Rs. 1 price difference could save Rs. 750M annually for CEB.!

⭕ Open bidding was expected to increase transparency and competition in fuel procurement.

#SriLanka #Energy