US $ 3.6 billion credit facility for fuel purchases SL to sign agreement with Sultanate of Oman next week

• Ceylon Petroleum Corporation is incurring a loss of Rs.35 for a litre of diesel and Rs.18 for a litre of petrol.

By Kelum Bandara   

Sri Lanka and Oman will sign an agreement next week for a US $. 3.6 billion credit facility to purchase fuel, Energy Minister Udaya Gammanpila said .   

The Minister told Daily Mirror that it would be a credit facility to be settled over a period of 20 years.He said there would be a five -year grace period for the settlement of the loan.  

The global fuel prices had hit a new high at present, it is said.  

Asked about the possible fuel price revision , he said the Ceylon Petroleum Corporation (CPC) was incurring a loss of Rs.35 for a litre of diesel and Rs.18 for a litre of petrol.

• The global fuel prices had hit a new high at present
• The credit facility is to be settled over a period of 20 years