Sri Lanka

Mohamed Uvais is CPC’s new chairman -assumes duties today

Mohamed Uvais Mohamed who was appointed as new Chairman of the Ceylon Petroleum Corporation assumed duties today.

He was the Chairman of the Ceylon Petroleum Storage Terminals Company until December, 2021. At the beginning of last year, Mohamed Uvais Mohamed, the youngest appointed Chair and Managing Director of Ceylon Petroleum Storage Terminals Limited (CPSTL), faced with one of the most challenging times the company had experienced in recent times.

Mohamed took over this position in January 2020, and ensured a smooth and efficient fuel distribution across the country during the pandemic. As a result of such efficiency measures, the company improved profits in 2020 by 50% compared to the previous year, despite a decrease of 20% in the overall sales volume, as per the CEO Magazine.

Amidst this challenge, his team managed to optimise storage across all terminals, third-party storage facilities and fuel retail outlets by providing them with incentives. And as a result, the country was able to minimise demurrage costs, while reaping benefits from the low fuel prices at the time.

His resignation in December 2021 reportedly came after the then Minister of Energy Udaya Gammanpila who was subsequently sacked by President Gotabaya Rajapaksa, had instructed the Ministry Secretary to remove him as the Managing Director of Ceylon Petroleum Storage Terminals LTD.

Mohamed Uvias who hail from Kalutara from humble beginnings completed his University and Masters in the United Kingdom. He has an MBA from Univeristy of Wales as well as completed CIMA. He is also a brother of former Justice Minister and Finance Minister Mohamed Ali Sabry.

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