• CB Governor says problem will be over by Oct 1
• Litro and Laugfs are the two domestic gas suppliers in the country.  Gas price had shot up to US $ 695 a tonne

By Kelum Bandara

 The shortage of US dollars in the commercial banking system has stood in the way of opening Letters of Credit to import domestic gas and essential food commodities, traders say. 

Laugfs Gas PLC Chairman W.K.H. Wegapitiya  told Daily Mirror yesterday dollar shortage had been the biggest problem in importing gas for domestic use in the country. Besides, he said rupee depreciation and price hikes in the international market had affected gas trading.
There is a shortage of Laugfs gas in the country.

Litro and Laugfs are the two domestic gas suppliers in the country.  Gas price had shot up to US $ 695 a tonne.  Sri Lanka imports gas from Saudi Arabia.

 Meanwhile, a spokesman for the Essential Food Commodities and Traders Association said dollar shortage had affected trading in a big way.  He said the commercial banks were not releasing required US currency in required volumes.

Asked about the situation, newly appointed Central Bank Governor Ajith Nivard Cabraal said his office was working out a mechanism to address the shortage of US dollars to finance imports. He expressed hope that it would yield by October 1.

“We hope the problem can be solved by October 1,” he said. 

• Litro and Laugfs are the two domestic gas suppliers in the country.  Gas price had shot up to US $ 695 a tonne