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Petrol duty reduced

24 January 2011 05:43 am - 31     - {{hitsCtrl.values.hits}}

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The Finance Ministry has slashed Rs.10 of the custom duty levied on a liter of petrol effective from January 10, Petroleum Ministry Secretary H.T.M. Jayawardana said.

He added that the custom duty reduction of Rs.10 from Rs. 15 was to cushion the losses incurred by the IOC and the CPC following the recent price hike of petrol in the global market.  (SAJ)

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  Comments - 31

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  • Viraj Monday, 24 January 2011 08:34 AM

    No. This won't pass to the consumer. Because, this was an incentive given to the companies to maintain the current pricing and not to increase.

    Thus, the consumer will benefit from avoiding any price hikes when the world gasoline prices are increasing.

    Rajitha Monday, 24 January 2011 09:37 AM

    Sri Lanka is a capitalist state. communist principles do not work here.

    Hadi Monday, 24 January 2011 09:41 AM

    Another election "Gundu"

    ff Monday, 24 January 2011 09:38 AM

    Oh! LG is coming!!

    knight Rider Monday, 24 January 2011 10:51 AM

    signs of an Election coming around the corner

    Tharaka Chanaka Monday, 24 January 2011 11:12 AM

    don't be fooled, another election gimmick!...and more to come!

    Wara Monday, 24 January 2011 11:40 AM

    How about previous reduce price in Petrol in the last election ?

    Mr. Retort Monday, 24 January 2011 02:05 PM

    Now reduction and after the Pradeshiya Saba, we will be again on the track to SUBA ANAGATHE

    Leslie Monday, 24 January 2011 05:45 AM

    Will the benefit of this reduction be passed on to the consumers?

    Mahadanamutta Monday, 24 January 2011 05:58 AM

    Yepiee now the petrol prices will go down by Rs10/=, Reap while the LG elections are around!

    Ind Monday, 24 January 2011 05:55 AM

    Good. But any reduce for the public ??

    Bonda Monday, 24 January 2011 06:01 AM

    Will this reduction come down to the consumer is the big question. Why did't the Govt. give this concession when the barrel of fuel was going around $70 a few months ago. Now it os floating around $ 90 a barrel. Some thing wron some where.

    DMG Monday, 24 January 2011 06:02 AM

    i didn't know we paid taxes for patrol? who exactly is patrolling and why are we paying import taxes for this service?

    Wara Monday, 24 January 2011 06:06 AM

    Good move to control the price hike.

    gemba Monday, 24 January 2011 03:47 PM

    Before the election it is down by 10/=. After the election it will go up by Rs 50. Be prepared and think twice before you caste your vote to this wrong leade which has already looted our country

    Hisham Monday, 24 January 2011 04:46 PM

    But this was the request from the IOC and CPC Im not sure this would be passed to the consumers.

    Economist Monday, 24 January 2011 06:22 AM

    Good move until the election.. Ha haaa

    When these people will realise this?

    Economist Monday, 24 January 2011 06:22 AM

    Good move until the election.. Ha haaa

    When these people will realize this?

    Percy Mandawala Monday, 24 January 2011 06:27 AM

    Giving 'seeni bola' for the election to deceive the public.

    KIRI PUTHA Monday, 24 January 2011 06:36 AM

    if its not reduced to public, this is not a news. just a cable message between two ministries and trying to get marks on effective less work.

    Diyasena Monday, 24 January 2011 06:38 AM

    Last time when the price was came down some people said it last only till the end of presidential elections. But those ppl still pumping petrol for 115. Now the same story again.

    Wara Monday, 24 January 2011 06:41 AM

    Nothing wrong. IOC want to increase the fuel price. To control that, government bare the tax loss and give the concesstion to ICO just to keep the price fixed.

    malkanthi Monday, 24 January 2011 06:45 AM

    If the government has no mechanism to control the rising prices, there is no need for a government, the mudalalis will decided on their own capacity.

    Amal Pereraa Monday, 24 January 2011 06:52 AM

    If the government have the money to pay an exorbitant amount of 29 billion for the hedging blunder, why can't they reduce the price of petrol?

    Economist Monday, 24 January 2011 06:49 AM

    Agree, As this is the only product which did not had a high price increase after presidential elections..Ha haa

    When these people will realise this?

    Royalist Monday, 24 January 2011 06:50 AM

    How nice... Now I can claim back 10 bucks from the 3-wheeler driver for dropping me home!

    Citizen Silva Monday, 24 January 2011 06:54 AM

    Mr Diyasena, when the oil barrel was USD35 do you know what price it was retailed in Sri Lanka?

    Wara Monday, 24 January 2011 07:03 AM

    Price control is not a good practice in open economy !!

    Modaya! Monday, 24 January 2011 07:27 AM

    Also high prices is not good for development when the barrel of crude was USD35!


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