Ceylon Petroleum Corporation (CPC) Chairman D.J. Karunarathne assured the public that there is no cause for concern regarding a fuel shortage, as sufficient stocks are being maintained.
Addressing the media Karunarathne said that the CPC has future plans to ensure a stable fuel supply, with stock maintenance schedules set on a weekly basis.
“Fuel orders are secured for the next three months, and as of today (October 1), we’ve planned supplies through to April next year. There is absolutely no reason for any fuel shortage,” he said.
The government will be adhering to the cabinet approved fuel price formula, he said. “A pricing formula is essential, and we have no intention of hiding anything. We will engage with the public on this matter.”
Karunarathne also revealed that the government is planning to introduce a regulatory body to oversee fuel pricing, similar to how electricity pricing is regulated. This new body will enable public scrutiny of the pricing process, ensuring transparency, he said.
Addressing concerns about the operations of foreign oil companies now distributing fuel in Sri Lanka, Karunarathne said their activities must be reviewed.
He noted that some local fuel distributors have been reluctant to work with these companies, claiming they were pressured by the former subject Minister to cooperate or risk having their fuel supply cut off.
“We aim to engage in discussions with the distributors and resolve these issues,” he said. (Newswire)