Litro Gas denies wage structure claims
Litro Gas Lanka, Sri Lanka’s national LPG supplier, has denied allegations about its staff pay structure.
Muditha Peiris, Chairman and CEO of Litro Gas Lanka, said the company had been severely affected by rising global LPG prices, foreign currency fluctuations and the failure to raise LPG prices in Sri Lanka in accordance with the evolution of international LPG rates.
“The once-robust entity that consistently performed as a leading public company with growth potential, recently suffered losses, having passed the cost benefits on to consumers for a significant period of time,” did he declare.
As a wholly owned subsidiary of the Sri Lanka Insurance Corporation, Litro Gas Lanka has been a major contributor to treasury coffers since its inception. The Corporation is built on a model of efficiency and professionalism and has instilled in its staff an ethic of efficiency, effectiveness and results orientation, factors that have played a major role in its success.
The company said it spends less than 2% of its annual revenue on salaries for its fewer than 200 employees. Many members of the Litro Gas Lanka team have gone on to careers from Lanka Gas Co and Royal Shell Gas and have been in service for over 20 years. Litro Gas Lanka employees have always taken pride in their core values of delivering performance as a sustainable and cohesive team.
“Our team includes experts and professionals with global and local experience in their chosen area of expertise and do not receive state-supported pensions or other tax-free incentives or facilities available to government employees,” Peiris said.
While Litro Gas Lanka’s salary structure is governed by the Companies Act 2007 No.07 and regulated to be on par with other public companies, it is in no way consistent with incorrect and false information being shared on social networks, he reiterated. .
Litro Gas Lanka believes that such baseless claims have been made with the intention of causing a negative impact on the goodwill generated by the company in the minds of consumers. The company vehemently denies the allegations and reiterates that such acts of deliberate sabotage are intended to cause serious damage to the good name and reputation that Litro Gas Lanka has cultivated over the years as the country’s leading LPG supplier. (Colombo Official Gazette)
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