COLOMBO (EconomyNext) – Sri Lanka will soon have legally enforceable quality standards for petroleum products enabling consumers take action against being sold substandard products, Minister of Power and Energy Champika Ranawaka said.
A new energy policy is being prepared covering supply, quality, pricing and regulatory issues in the petroleum industry.
Lack of proper standards and corruption had meant high costs for both the petroleum utility, Ceylon Petroleum Corporation and consumers, he told an energy forum.
“Now we’re taking action to have a proper system and procedures so that petroleum product purchase and sales are done in a transparent manner,” he said.
“Product quality issues have been linked to shortcomings of the procurement process,” Ranawaka said.
“Legally enforceable minimum quality standards for petroleum products need to be set up.”
Ranawaka said the lack of labs to test product is also a concern that the new government elected in January was addressing.
“In the absence of a regulator, our consumer now have no recourse if substandard products are marketed,” he said.