Govt. should revert to fuel price formula: Justice Minister

• It is better to adopt a system which allows the fuel prices to vary in  line with the fuel price fluctuations in the World Market
• All the people including the poor have to pay the tax on fuel ultimately
• It is not suitable to use public funds to pay the fuel subsidy

By Ajith Siriwardana and Yohan Perera  

The Government should go back to the fuel price formula once again as proposed by the Central Bank, Justice Minister Ali Sabri said yesterday.   

He told Parliament that it was better to adopt a system which allows the fuel prices to vary in line with the fuel price fluctuations in the World Market.  
Speaking during the debate on the second reading of the budget, he said all the people including the poor had to pay the tax on fuel ultimately and added that it was not suitable to use public funds to pay the fuel subsidy.  

“It is not suitable to use public funds to cover the fuel of those who can afford to use a petrol or diesel vehicle. When paying the tax ultimately, it is paid from the money of all the people including the poor. That subsidy is not at all suitable” he said.

• It is not suitable to use public funds to cover the fuel of those who can afford to use a petrol or diesel vehicle