Financial Times

Concern over concealing evidence

Some officials of the Ceylon Petroleum Corporation (CPC), allegedly involved in the oil hedging deals, are attempting to conceal evidence with regard to the issue, senior CPC trade union members charged. The new CPC Chairman Major General Asoka Thoradeniya was not available for comment. When this newspaper tried to contact the CPC chairman over the phone on Thursday, one of his aides, Capt. S. Weerasinghe said that the chairman was busy and could not be reached.

Exporters urge government to allow rupee depreciation
Local export industries are urgently calling on the government to allow the rupee to depreciate to a competitive level saying the rupee is over-valued and needs to depreciate against international currencies for Sri Lankan exports to remain competitive.
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