By unusuma.lk on
(LK time)The Chairman of the Ceylon Petroleum Corporation (CPC), Mr. D.J. Rajakaruna, has made the decision to sell his luxury BMW and allocate the proceeds to purchase two air-conditioned buses for employee transportation.
The current value of the BMW is estimated at Rs. 52 million. Considering the operational challenges, including inoperative sensors when the vehicle is no longer in use, the high cost of maintenance, and its significant fuel consumption, Mr. Rajakaruna has chosen to replace the car with two buses to benefit CPC employees.
This BMW 7 Series, with approximately 3,500 horsepower, was originally purchased in 2018 for Rs. 29.5 million. It consumes one liter of petrol for every 4 kilometers, making it highly fuel-inefficient.
The vehicle has undergone several costly repairs, amounting to Rs. 6,770,349. Additionally, monthly servicing expenses and annual insurance costs nearly one million rupees, placing a substantial financial burden on the corporation.
Selling this vehicle is expected to significantly reduce costs. Approximately Rs. 40 million will be required to purchase two fully air-conditioned Japanese buses. These buses will replace the aging Tata buses currently used, which have been in service for over 10 years.
The board of directors submitted a proposal for this initiative last Friday, and efforts are underway to expedite the procurement process.