• Companies will be selected upon their ability to import fuel and operate  without Forex requirements from the CBSL and banks for the first few  months of operations

By Chaturanga Samarawickrama  

Cabinet approval was granted to open fuel imports and retail sales market to companies from oil exporting nations, Power and Energy Minister Kanchana Wijesekera said.  

The companies will be selected upon their ability to import fuel and operate without Forex requirements from the CBSL and banks for the first few months of operations.  

 He said the Ceylon Petroleum Corporation (CPC) will be the service provider for logistics, stocking and distribution with a service fee levied from those companies.  

Selected outlets of the existing 1,190 CEYPETCO and new outlets will be made available for LIOC and new companies which would be selected. Refinery will remain under CPC’s purview. 

• CPC will be the service provider for logistics, stocking and distribution with a service fee levied from those companies