19 April 2022 11:40 pm
The Ceylon Petroleum Corporation (CPC) was still making a daily loss of Rs. 327 million from the sale of fuel even after the increase of the prices on Monday night, Power and Energy Minister Kanchana Wijesekara said today.
He told Parliament that the CPC was making a daily loss of Rs. 1.6 billion by Monday night.
The Minister said they had to increase fuel prices to ensure continuous procurement of fuel required for power generation.
"We have to procure fuel shipments regularly to maintain electricity supply with minimum interruptions. We had to increase fuel prices to find money for that purpose," he said.
He said anyone who would take over the ministry would have to increase fuel prices and said he was ready to hand over the ministry to anyone if they could reduce fuel prices.
The Minister said they had discussions with the Lanka Indian Oil Company (LIOC) and reached an agreement to adopt a formular to increase fuel prices of the two institutions in same amounts in the future.(Ajith Siriwardana and Yohan Perera)