Sri Lanka kerosene subsidy to outboard motor boats, 47,000 off-grid houses

ECONOMYNEXT – A subsidy for kerosene will only be paid to houses without electricity and owners of fishing boats with outboard motors, the finance ministry said.

 A subsidy of 57 litre will be paid based on average consumption in the past.

There are an estimated 47,555 houses without power and 24,282 fishermen with small boats driven by kerosene the finance ministry said.

The subsidy will be paid from June 01 directly to bank account of holders, but it will be effective from May 10, when prices were raised.

Sri Lanka’s subsidized kerosene, a fuel similar to JET A-1, which is the most expensive to import as part of the budget follies of 2015 and 2016, encouraging widespread mis-use of the fuel and discouraging the use of diesel, which was close to market prices.

The kerosene price cut was a big benefit to several big businessmen who had factories that could operate with kerosene.

The 2015 was probably the worst in the recent history since the ‘Rata Perata’ budget spending in 2004.  (Colombo/May15/2018)

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