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Thursday, October 6, 2022

Petroleum Products (Special Provisions) Amendment Bill gazetted

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Sri Lankan government on Friday (Aug 12) has gazetted the Petroleum Products (Special Provisions) Amendment Bill.

The said Bill, published under the directives of Power & Energy Minister Kanchana Wijesekera, allows selected specific sectors of the economy to individually import necessary fuel quantities.

Accordingly, the government will issue licences to identified parties for importing petroleum products.

On April 25, the approval of the Cabinet of Ministers was received for the proposal tabled by Minister Wijesekera in this regard.

As fuel is essential for all economic activities in the country, it is appropriate to issue licenses to selected specific sectors of the economy to import and use the fuel they require individually, the government has said.

Subsequently, the legal draftsman was advised to draft a Bill to amend the Petroleum Products (Special Provisions) Act, No. 33 of 2002, in order to make provisions to issue licence to properly identified parties.

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