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Wednesday May 18th, 2022
Energy

Sri Lanka’s CEB may import fuel directly with Indian credit amid forex crisis

ECONOMYNEXT – Sri Lanka’s state-run Ceylon Electricity Board may be given the right to import fuel directly rather than going through agencies of the petroleum ministry, Information Minister Dullas Alahapperuma said.

Petroleum Minister Udaya Gammanpila had said the permission to import fuel can be given to the CEB in the future, during a discussion with President Gotabaya Rajapasksa about the current fuel shortages for power generation.

A 500 million dollar Indian credit line for fuel imports is like to be given to the CEB to import fuel, Minister Alahapperuma said.

Until now liquid fuels fuels were exclusively brought by petroleum ministry agencies.

Sri Lanka is facing power cuts due to delays in the import of fuel amid forex shortages and a breakdown at a 300MW coal plant, which had pushed up liquid fuel demand unexpectedly.

At a meeting with President Gotabaya Rajapaksa, the ministers had said power cuts could be avoided if fuel in two ships off Colombo, which was awaiting forex exchange, could be unloaded.

President Rajapaksa had directed the Central Bank and Treasury to release the required dollars. (Colombo/Jan25/2021)

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