Arjuna Ranatunga, brother indicted over CEYPETCO loss
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The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) today (January 22) told court that indictments have been filed against former Minister Arjuna Ranatunga and his brother Dhammika Ranatunga over a nearly Rs. 800 million loss to the Ceylon Petroleum Corporation.
The CIABOC made this submission when the case was taken up today before Colombo Chief Magistrate Asanga S. Bodaragama.
The CIABOC informed the court that indictments have been filed before the Colombo High Court against former Petroleum Minister Arjuna Ranatunga and his brother Dhammika Ranatunga, who served as the former Chairman of the Ceylon Petroleum Corporation.
The Commission stated that the case has been instituted under the Anti Corruption Act, naming both former officials as accused.
According to the prosecution, during a six month period from 2017 to 2018, three long term tenders planned for the purchase of fuel for the Ceylon Petroleum Corporation were cancelled. Instead, 27 spot tenders were carried out at higher prices, despite Presidential instructions.
It is alleged that this decision resulted in a financial loss of nearly Rs. 800 million, equivalent to USD 4,716,957, to the Ceylon Petroleum Corporation, and that the accused aided and abetted in causing this loss.
After considering the submissions made by both parties, the Colombo Chief Magistrate directed the CIABOC to submit further facts to court on March 13, 2026.
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