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New fuel price mechanism in the offing

11 December 2015 02:58 am - 4     - {{hitsCtrl.values.hits}}

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A retail price mechanism for fuel will be introduced during the first quarter of 2016, Petroleum Minister Chandima Weerakkody told Parliament yesterday.

Responding to an oral question raised by MP Buddhika Pathirana, the Minister however assured that this was not aimed at increasing prices.

The Minister said the Ceylon Petroleum Corporation had managed to recover a huge amount of debts which were due from various institutions.

He said SriLankan Airlines owed Rs 22.1 billion, Mihin Lanka Rs 1.4 billion, Railways Department Rs 1.1 billion, Sri Lanka Army Rs 806 million, Navy Rs 429 million and Police 62.78 million to the Ceylon Petroleum Corporation as at May 30 this year.

He said the total outstanding due from various institutions was Rs 477 billion while it would be reduced to approximately Rs 277 billion by the end of this year.
(Yohan Perera)

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  Comments - 4

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka
  • puncha Friday, 11 December 2015 10:36 AM

    hope its a genuine worth or march election "sixer"

    Thanos Friday, 11 December 2015 10:40 AM

    This is good news if they can execute it in time.

    kan Friday, 11 December 2015 10:50 AM

    For the debts, public has to be penalized until new retail price is worked out.

    Premalal Friday, 11 December 2015 12:10 PM

    Whatever mechanism there will be a debt recovery component in it .


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Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

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