Sri Lanka to open retail fuel market to foreign companies
Sri Lanka’s cabinet of ministers has approved a proposal to allow companies from oil-producing nations to import oil and start retail operations in Sri Lanka.
A statement by the Department of Government Information said the proposal was tabled by Minister of Power and Energy, Kanchana Wijesekera.
“Given the severe foreign exchange crisis faced by Sri Lanka, the government believes that entering into agreements with foreign companies which can use their own funding to import fuel will be a solution to fuel shortages,’’ the information department said.
According to the statement, 90 per cent of Sri Lanka’s fuel supply was through the Ceylon Petroleum Corporation, and the remaining 10 per cent by Lanka IOC.
Sri Lanka is battling crippling fuel shortages as fuel prices were increased four times this year.
(Xinhua/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Health
Kaduna: Gov Sani signs bill establishing post-basic nursing college in Rigasa
Governor Uba Sani has signed an executive bill establishing the Kaduna State College of Post-Basic Nursing Sciences in Rigasa, Igabi council area.
Abuja
Abuja: Disability community pledges 500 votes for Tinubu, begs for clinic
Ms Haruna said that despite the challenges facing community residents, they would offer their full support for Mr Tinubu’s re-election bid.
Ibadan
At least one killed in attack on Accord supporters in Ibadan
The police confirmed the death of a man, following Wednesday’s attack on supporters of the Accord governorship candidate, Oriyomi Hamzat, in Ibadan.
States
Nasarawa: JUSUN suspends indefinite strike for two weeks
The Nasarawa chapter of the Judiciary Staff Union of Nigeria (JUSUN) has suspended its indefinite strike for two weeks.
States
Kebbi: 19 Nigerian, Chinese nationals convicted of terrorism, illegal arms possession, police say
The Kebbi police command says it has secured the conviction of 19 persons for terrorism, illegal possession of firearms and vandalism of critical national infrastructure.
States
Police, ACJMC join ranks to fight abuse
The Zone 5 police command urged victims of gender-based violence to speak out when abused to get early help from concerned authorities.
