Govt. absorbs Rs. 20 Billion monthly loss to stabilise fuel prices: Minister

By Darshana Sanjeewa Balasuriya   

Minister Nalinda Jayatissa said yesterday that the government is currently absorbing a loss of Rs. 100 per litre of diesel and Rs. 20 per litre of petrol, despite the recent fuel price revision.   

“This massive subsidy costs the government approximately Rs. 20 billion per month,” the minister said speaking at a press conference held at the Department of Government Information. 

He said that if the government were forced to bear this entire financial burden indefinitely, it would result in an additional annual expenditure of $1.5 billion, posing a severe risk to the country’s overall economic stability.