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Wednesday, May 31, 2023

More companies to import, sell fuel by November

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Power and Energy Minister Kanchana Wijesekera said the private sector will be given the responsibility of fuel imports, distribution and sale.

Accordingly, a few selected private companies will have the right to import, distribute and sell fuel in the country by this November.

Under this move, part of the 1,250 fuel stations controlled by the Ceylon Petroleum Corporation (CPC) will be given to these selected private companies. This was revealed at the progress review meeting chaired by the Minister at the Ministry yesterday. Responding to the call for proposals made by the Power and Energy Ministry, 24 companies have submitted proposals expressing their desire in fuel sector investments.

Of the 24 companies a few companies, which meet the requirements will be selected. The minister said that the CPC hopes to give the opportunity to import, distribute and sell fuel by November.

Apart from the Lanka Indian Oil Company (LIOC), until now the right to import, distribute and sell fuel in Sri Lanka was held solely by the Ceylon Petroleum Corporation.

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