Treasury unable to support CPC - Finance Minister

The Treasury is unable to support the Ceylon Petroleum Corporation (CPC), Finance Minister Basil Rajapaksa told Energy Minister Udaya Gammanpila.

 

However, Energy Minister Udaya Gammanpila told the media yesterday that there would be no increase in fuel prices in the short term.

 

He said the chairman of the Ceylon Petroleum Corporation (CPC) had demanded a price increase.

 

At the last Cabinet meeting, I sought the assistance of the Minister of Finance, who said that Sri Lanka spends about US $ 300 million a month on oil imports, and that the loan scheme allows for the supply of fuel at concessionary prices per year.