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Ranawaka who pledged to stop corrupt dealings in the CPC, criticized other state owned institutions for off setting losses against the CPC. “We (CPC) will not take on any losses because of corrupt state owned institutions like Srilankan airlines or Mihin,” “Other government institutions will not be able to set off their losses against us anymore.” Ranawaka said. According to provisional financial statements, CPC reported a profit of 1.7 billion rupees in 2014 due to the fall in global oil prices compared to a loss of 7.9 billion rupees in 2013. In 2012 it reported a loss of 89.6 billion rupees. “In the future we will not take on the debt burden of others and incur any losses due to this,” Ranawaka emphasized.
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According to the 2014 Central Bank annual report, improved debt recovery helped CPC to reduce outstanding trade receivables from government entities to 34.1 billion rupees at end-2014 from 53.
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2 billion rupees in 2013. But the report also noted that CPC’s total liabilities to the banking sector increased by 22.2 billion rupees to 245.6 billion rupees during 2014.