LIOC dealers blow fumes as commission margins are slashed

Petroleum dealers of Lanka Indian Oil Company PLC (LIOC) are up in arms against its management for the failure to ‘raise the dealer commission’ that was pruned, despite gaining profits in billions of rupees annually. Following the new scheme implemented by the Ceylon Petroleum Corporation (CPC) to withdraw the 3% dealer margin, paid over the past several years as and when the retail price was determined, LIOC too followed suit although the other

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