Fuel price formula not yet approved

15 January 2016 03:29 am - 10 - {{hitsCtrl.values.hits}}

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Approval of the pricing formula for fuel (which was submitted to Cabinet) has been postponed, according to government sources.

The sources said the postponement was due to the lack of the requisite directions from the Finance Ministry to implement it.

The Cabinet paper containing the pricing formula had been presented to Cabinet by Petroleum Resources Development Minister Chandima Weerakkody. It had been discussed at a Cabinet meeting on January 13.

The Finance Ministry had said it needed time to submit its directives. Therefore approval had been put off. (Ajantha Kumara Agalakada)

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Comments - 10

Henry Saturday, 16 January 2016 07:31 PM

Our Grade 5 student would derive a formulae in 5 minutes!

sheddy Friday, 15 January 2016 02:01 PM

Fuel prices increased in Qatar today via DM iOS App

Dee Friday, 15 January 2016 02:49 PM

Take your time. We can wait. Just ensure that once announced, you will not revoke it.

BanisMama Friday, 15 January 2016 09:39 AM

Waiting for the reincarnation of Einstein? You may get help from Mr. Lemon Puff. He is good at vector calculus.

lanka Friday, 15 January 2016 09:40 AM

Fuel price is record breaking low in the US, fuel price low as $ 1.20 per Gallon. why in Sri Lanka yet Rs 117 per Litre.

Gona Part Friday, 15 January 2016 10:18 AM

Now bull will come out from clayshop

Premalal Friday, 15 January 2016 10:30 AM

Asking for directions from the Finance ministry or the finance minister is like a lost blind person asking for his bearing from another blind person.

Mason Friday, 15 January 2016 06:24 PM

This is being purposefully delayed. The talk of price formula was in the air more than six months ago.

onlooker Friday, 15 January 2016 12:34 PM

As usual the FM has back tracked.

Nihal Amarasekera Friday, 15 January 2016 12:52 PM

No wonder. They are in need of finances after giving away political handouts. Wonder what will happen if world fuel prices go up and up.

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Fuel price formula not yet approved

Comments - 10

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