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Thursday September 29th, 2022

Sri Lanka cabinet nod for cost-based cooking gas pricing formula

File photo – GAS LINE: People waiting in line to get gas in a suburb of Colombo, Sri Lanka.

ECONOMYNEXT – Sri Lanka’s cabinet of ministers has approved a proposal to introduce a cost-based pricing formula for cooking gas that will liquid petroleum (LP) gas prices received once a month.

The proposal, made by President Ranil Wickremesinghe in his capacity as the Minister of Finance, will see gas prices revised on the fifth of every month according to the formula, reflecting cost.

The goal of this decision is to ensure an interrupted supply of domestic gas, a statement from the government information department said on Tuesday August 09. (Colombo/Aug09/2022)

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