US $ 3.6 billion from Oman

23 October 2021 12:00 am Views - 198

US $ 500 million from India to purchase fuel

• We are in the process of signing the agreement
• Central Bank has also agreed to release US dollars for the purchase of the next consignment of fuel
• The opposition and the trade unions affiliated to it had spread  misinformation about a fuel shortage on five occasions, and he was tired  of denying it
• Government had worked out plans for fuel imports

By Kelum Bandara  

Ruling out a fuel shortage in the country, Energy Minister Udaya Gammanpila said the Ceylon Petroleum Corporation (CPC) had not taken any decision to revise prices though Lanka Indian Oil Company (LIOC) responsible for 15 percent of the market share, to put up their prices.  

Delivering his remarks to the media, the Minister said the opposition and the trade unions affiliated to it had spread misinformation about a fuel shortage on five occasions, and he was tired of denying it.   

He said though the opposition and these trade unions wanted such a scenario, the government had worked out plans for fuel imports.  

“The Cabinet approval has been given for a loan of US $ 3.6 billion from Oman. We are in the process of signing the agreement. Besides, US $ 500 million will be obtained from India. The Central Bank has also agreed to release US dollars for the purchase of the next consignment of fuel. Therefore, there is no room for fuel shortage. We have seen fuel shortages in powerful countries. The opposition may be wondering why it does not happen in Sri Lanka. We averted a crisis through our well-planned action ,” he said.