Three foreign companies entering to sell fuel at lower prices than CPC will benefit the govt, people
Posted on April 10th, 2023

Courtesy The Daily Mirror

The government has decided to allow the entry of three foreign companies to sell fuel below the prices set by the Ceylon Petroleum Corporation (CPC) for the benefit of the government as well as the people, Finance State Minister Ranjith Siyambalapitiya said.

“We still face the main problem of making fuel available all the time. We need USD 450 million per month to import fuel.

“We still have to issue fuel with a certain level of control due to lack of foreign exchange,” he said.

While giving permission for the incoming companies to sell fuel at prices lower than the CPC prices, it will provide the people with the profits from the competition created by getting rid of the existing monopoly.

Any company can provide fuel at a lower cost and increase their sales. That benefit will go to the people.

Instead of the billions of dollars in losses by selling fuel, the government would be able to gain a fixed tax or income from those companies.

Therefore, the restructuring of public institutions is a good sign for the government as well as the people in the country,” Siyambalapitiya added. (Chaturanga Pradeep Samarawickrama)

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