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Last Updated : 2024-05-20 11:30:00
9 July 2022 09:01 am - 4 - {{hitsCtrl.values.hits}}
The Central Bank has been compelled to print money in order to prevent a total breakdown of fuel supply in the country, as the Ceylon Petroleum Corporation (CPC), does not have sufficient rupees to buy dollars for fuel purchases, Central Bank Governor Dr. Nandalal Weerasinghe said.
Addressing the media at the Central Bank on Thursday Dr. Weerasinghe said that the CPC had requested Rs. 217 billion from the Treasury for the purpose and the Treasury was unable to supply such a huge amount immediately.
He stated that the Treasury in turn had made a request to the Central Bank and the only way for the Bank to fulfill that request is to print money.
The Monetary Board of the Central Bank responded positively last week to another request by the CPC for Rs. 185 billion for fuel purchases, as there would be a grave situation in the country if that request was turned down, the Governor said.
He added that the Central Bank was not in a position to turn down the latest request as well due to the dire situation the country is currently faced with. (Harshana Thushara Silva)
Tissa Fernando Saturday, 09 July 2022 09:11 AM
One question? Is CPC not receiving what people are paying for fuel? Or are there free loaders who get their tanks filled without paying any money? Why CPC is not having money? What is happening to the money people pay for fuel. I think Mr Gota please leave and enjoy your grand children, why do you want to carry this burden for others? Let them do what they want as they think you are the cause of all the issues.
Hassanda Saturday, 09 July 2022 09:13 AM
Mr CB Governor When you took office you told i will do This and do that - Puss vedilla mr cb We know No Salli in CB - Ask the Robbers ( Rajapaksas )
Rat Saturday, 09 July 2022 09:20 AM
Is cpc giving fuel FOC to customers???? whose pockets are getting filled up
gadaffi Saturday, 09 July 2022 09:26 AM
All what CBSL know is to Print money as a solution. This is what we are experiencing from years.
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