Unable to supply gas unless prices increased: Litro Chairman

Claiming that they could not continue the gas supply unless the prices were increased, Litro Gas Lanka Limited Chairman Vijitha Herath today expressed hope that the government would announce new gas prices soon.

He told a news conference at the Presidential Media Center that the Litro Company was incurring a loss of Rs. 250 million daily and that the price of a gas cylinder should be increased to Rs. 5,175.

He said the government should decide whether to increase the prices and pointed out that they could not supply gas to the market if prices were not increased as a gas cylinder costs Rs. 4650 when it was unloaded at the port.

He said they were only releasing industrial gas cylinders at the moment and that domestic gas cylinders of 12.5 kg,5kg and 2.5 kgs were not released to the market at present.

"If the prices were not increased, we cannot find money to import gas. Banks are not lending us money anymore as we already owe billions to the banks If the government decides not to increase prices, then, it has to provide us with the required funds. It means the people have to bear the cost anyway," he said.

He said gas prices should be decided according to a pricing formula. (Ajith Siriwardana)