No fuel hike

25 November 2010 11:00 am

There will be no fuel hike at least in the next twelve months, Petroleum Industries Minister Susil Premajayantha said.

He further said the government would stop purchasing fuel from the global market and buy directly from friendly countries through government to government agreements.

Addressing the media after assuming duties afresh at his ministry following his re-appointment to the same post Minister Premajayantha said Sri Lanka had already resumed bilateral talks with Saudi Arabia, Oman and Iran and the outcome had been encouraging.

“We expect to finalize oil purchasing agreements with the three countries within the next three to four months,” he added. (SAJ)