ECONOMYNEXT – The Government has allowed private bunker fuel operators to import fuel for industries, Power and Energy Minister Kanchana Wijesekera said on Friday, in a bid to reduce the burden on cash-strapped state-run fuel retailer Ceylon Petroleum Corporation (CPC).
The move comes as a severe dollar shortage has reduced CPC’s ability to import fuel and meet the demand as earlier amid long motorists’ queues for fuel.
“Approval was given to all the private bunker fuel operators to import and provide diesel and fuel oil requirements of industries to function their Generators and Machinery,” Wijesekera said in his Twitter platform.
“This will ease the burden on CPC and fuel stations providing in bulk. The meeting was held yesterday.”
Approval was given to all the Private Bunker Fuel Operators to Import and provide Diesel and Fuel Oil requirements of Industries to function their Generators and Machinery. This will ease the burden on CPC and Fuel Stations providing in bulk. The meeting was held yesterday. pic.twitter.com/dhAonet10J
— Kanchana Wijesekera (@kanchana_wij) May 27, 2022
In April, Sri Lanka cabinet has agreed to amend the Petroleum Products Act making provisions to issue licenses to “properly identified parties” to import fuel which will end an import monopoly held by the CPC.
There was a push to make the Ceylon Electricity Board (CEB) to import its own oil as the Ceylon Petroleum Corporation was unable to get foreign exchange and the power utility ran out of cash due to lack of a price increases.
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