The Cupboard of ministers has determined to not implement a right away gasoline value hike.
The choice was taken finally night time’s (11) Cupboard assembly presided by Gotabaya Rajapaksa.
Minister of Power – Udaya Gammanpila had identified to the Cupboard that the Ceylon Petroleum Company was incurring massive losses as a consequence of steep gasoline value will increase within the world market.
Nevertheless, the President has stated to not improve the value of gasoline instantly.
Talking at a media briefing held yesterday, CPC Chairman – Sumith Wijesinghe had informed reporters that as of Aug. 31, 2021, the CPC has incurred a lack of Rs. 70 billion.
Given the losses, there isn’t a different possibility however to extend the gasoline costs, he has added.
Talking on the media briefing, Udaya Gammanpila stated the CPC or the federal government can’t carry this burden any additional and the CPC doesn’t have the funds to buy gasoline.
He additionally stated the CPC had suffered a lack of Rs. 1 billion in October.