Advance payments made for fuel deliveries this week

By Ifham Nizam

The Power and Energy Ministry has made advance payments for fuel delivery here with the assistance of the Central Bank and the Ministry of Finance to Lanka Indian Oil Company for a Diesel Cargo to arrive between 15 and 17 July, and a Petrol Cargo between 22 and 24 July.

Power and Energy Minister Kanchana Wijesekera told the media yesterday that advance payments had been made last week. He said that the balance payment would be made yesterday (11) for the diesel and the balance payment for the petrol shipment will have to be paid today (12).

The Minister said that the 19 July had been delayed due to bad weather.

Central Bank Governor Dr. Nandalal Weerasinghe on Thursday said that the delay in increasing electricity prices by the CEB had made it impossible to pay for fuel purchases timely to the CPC impacting the cash flow of the CPC although it has already introduced a price formula.

Dr. Weerasinghe added that had created a situation where the CPC could not earn enough rupees to buy dollars and was still requesting rupees.

, Local, ,

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