CPC's Rs. 800 Million Loss: Dhammika Ranatunga Bailed, Arjuna Arrested Upon Sri Lanka Return

 Colombo Chief Magistrate Asanga S. Bodaragama yesterday (15) ordered the release on bail of Mr. Dhammika Ranatunga, former Chairman of the Ceylon Petroleum Corporation (CPC), who was arrested by the Commission to Investigate Allegations of Bribery or Corruption on charges of causing a loss of nearly Rs. 800 million to the corporation.

Charges have been leveled against the former chairman for causing this significant financial loss to the government by canceling three long-term tenders that were scheduled to be implemented for fuel purchases in 2017 and 2018, and instead implementing a Spot Tenders method at higher prices.

Mr. Dhammika Ranatunga appeared before the Bribery Commission yesterday morning to give a statement regarding this financial irregularity. Following the statements obtained, officials took steps to arrest him and present him before the court that same afternoon.

President's Counsel Saliya Peiris, appearing for the suspect, submitted to the court that his client would provide full cooperation for the investigations and requested his release under the Bail Act.

Considering the submissions from both parties, the Chief Magistrate ordered the suspect's release on two personal bail bonds of Rs. 1 million each and imposed strict conditions, including a ban on foreign travel and a directive to refrain from influencing witnesses in the case.

The Bribery Commission, presenting facts related to the incident, informed the court that Mr. Arjuna Ranatunga, who was the subject minister at the time, has been named as the second suspect in this case. It was also stated that he is currently abroad and therefore could not be arrested and produced before the court.

Furthermore, officials from the Bribery Commission stated before the court that future investigations into this corruption incident would proceed with Mr. Dhammika Ranatunga named as the first suspect and Mr. Arjuna Ranatunga as the second suspect.