New chairman at CPC

 Retired Major-General Asoka Thoradeniya on Monday was appointed as the new Chairman of the Ceylon Petroleum Corporation (CPC) replacing Asantha de Mel who was suspended by the Supreme Court over the controversial oil hedging deals, officials said.

A request to appoint Mr Thoradeniya to this post was made by the Treasury Secretary Sumith Abeysinghe to a Supreme Court bench headed by Chief Justice Sarath N Silva since the court on Friday had ordered Mr Abeysinghe to take over the position on a temporary basis. The request was granted.

Mr De Mel was suspended pursuant to a fundamental rights petition filed by Laugfs Gas Chairman W.K.H. Wegapitiya saying the oil hedging deal will result in a major foreign exchange loss to the country.