Holding Off

Crucial talks between Ceypetco unions and the President over plans for a third player in the retail petroleum sector was put off until Wednesday. Crucial talks between Ceypetco unions and the President over plans for a third player in the retail petroleum sector was put off until Wednesday.

Unions suspended a lightning strike last week that crippled work at the state giant, pending the outcome of talks that were to be held on Tuesday.

Last week, over 5000 employees at the Ceypetco head office and storage terminals struck work on fears of an imminent deal with India’s Bharat Petroleum for a third of CPC’s assets and a 49 percent management stake.

The strike was suspended after a day on the President’s assurance that the deal would not go through until it was fully discussed at Cabinet level.

But Senior Presidential Advisor and head of holding company for state enterprises, Strategic Enterprise Management Agency, Mano Tittawella said Monday that a third player is needed to foster competition and whatever decision would be in the larger national interest.

The new government decided to sell only a management stake in a common us