Cabinet nod for two new committees to ensure continuous fuel supply

As the country’s fuel import bill is estimated to increase to US$ 6.7 billion this year, the Cabinet nod has been granted to appoint an advisory committee and officers’ committee to ensure continuous fuel supply by effectively managing limited fuel imports.

Power and Energy Minister Kanchana Wijesekera on Monday sought the approval of the Cabinet of Ministers to appoint the advisory committee and the officers committee to ensure smooth fuel supply in the country.

In a detailed explanation, Wijesekera had briefed the Cabinet of Ministers on the on-going energy crisis and strategies in place to effectively manage the limited fuel imports. According to Cabinet Spokesperson and Minister of Transport, Highways and Mass Media Bandula Gunawardane, the country’s fuel import bill is set to increase to US$ 6.7 billion from US$2.7 billion in 2015, mainly due to high crude oil prices in the world market. However, he stressed that the government is unable to finance US$ 600 million for fuel imports per month with merchandise export income hovering around US$1 billion a month. According to Wijesekera, the country needs to cut down fuel usage by around 30 percent until the foreign exchange crisis eases off.