Direct cash transfers to those hit by sharp kerosene price hike

The government will make direct cash transfers as an incentive to those vulnerable parties affected by the record kerosene price hike.

Following a decision by President Ranil Wickremesinghe, the line ministries will work with the Finance Ministry in identifying the low-income families and sectors that will need the cash grant, according to Power and Energy Minister Kanchana Wijesekera.

The most affected parties from the price hike are fisherfolk, who use kerosene to power their sea-going boats and estate sector workers, who use kerosene for cooking.  

The government hiked the kerosene prices by Rs.253 to Rs.340 per litre, with effect from August 21. 

Kerosene was sold at Rs.87 per litre. The government said the sharp upward revision in prices is required to cut the losses of Ceylon Petroleum Corporation. Sri Lanka’s daily kerosene demand is estimated at 600 metric tonnes.