Energy Minister Udaya Gammanpila says that fuel purchases will be in crisis within another two months. The Minister pointed out that an uninterrupted supply of fuel can only be guaranteed for another two months. The Minister also points out that the Ceylon Petroleum Corporation does not have the funds to purchase fuel for the needs of the country.
Minister Gammanpila has informed Finance Minister Basil Rajapaksa in this regard. He has also requested the Finance Minister to find a solution to the fuel crisis. It is reported that the corporation has informed the Ministry of Finance that if a solution is not found, the corporation will face a severe crisis and the import of fuel will have to be suspended.
The Minister of Energy had suggested that the fuel price should be increased to cover the huge loss incurred by the Corporation and if the price increase is not allowed, a subsidy should be provided by the General Treasury.
The CPC has incurred a loss of 83 billion rupees in the first nine months of the year alone and is forecast to reach 120 billion rupees by the end of the year.
Meanwhile, with the removal of inter-provincial travel restrictions from the 21st of this month, the demand for fuel is likely to increase and if so, the CPC will not have enough for even two months.
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