President instructs officials to use available funds to import fuel

President instructs officials to use available funds to import fuel

June 27, 2022   07:24 pm

President Gotabaya Rajapaksa has instructed the Governor of the Central Bank of Sri Lanka (CBSL) and relevant authorities to use available funds to import fuel immediately. 

The Governor of the Central Bank has agreed to pay the money due to the relevant companies for the fuel supply with a certain plan, the President’s Media Division reported.

President Rajapaksa had instructed officials to take immediate action to import fuel using the money available until then.

He made this observation at a discussion between the President and representatives of the major companies that have been importing and supplying fuel to Sri Lanka for a long period, at the President’s House, today (27).

It was decided to provide funds from the Central Bank and the Ceylon Petroleum Corporation (CPC) to restore the supply of fuel and to discuss with the relevant parent companies to obtain fuel within a specified period of time if fuel is not available as per the letter of credit opening procedure followed so far.

The President also instructed to formulate a formal plan for the next few months to manage and maintain the fuel supply properly.

Representatives of the Central Bank and the Secretary to the Treasury pointed out the need for direct engagement with the parent companies supplying fuel, international banks and financial institutions.

Minister of Power and Energy Kanchana Wijesekera, Secretary to the President Gamini Senarath, Chief Adviser to the President Lalith Weeratunga, Chief of Staff to the President Anura Dissanayake, Governor of the Central Bank Dr. Nandalal Weerasinghe, heads of energy institutions and fiscal institutions were also present on the occasion.

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