"I have seen baseless, politically motivated stories that our refinery is to be handed over to the LIOC. There are no plans to privatise the CPC (Ceylon Petroleum Corporation). We have not taken any such policy decision. No cabinet papers," Premajayantha said.
He was addressing CPC workers yesterday.
The Minister also said the JVP's claims the LIOC was to be given the rights to handle Sri Lanka's fuel importation and redistribution was "equally baseless".
"No other entity than the CPC would handle these," he added.
Citing CPC's unhealthy financial status, opposition JVP had said the government was planning to hand over the importation and redistribution of all petroleum products to LIOC.
While LIOC, the Sri Lankan arm of the IOC, and CPC both import refined petroleum products, only CPC imports crude oil.
"It was us who saved the CPC from privatisation", the minister said. PTI CORR RAH