Due to significant positive developments and several factors contributing to the favorable economic climate in Sri Lanka, LAUGFS Gas PLC, announced a reduction in the prices of its LAUGFS Branded domestic LPG effective midnight yesterday.
“LAUGFS Gas PLC acknowledges the supportive government policies, including the appreciating value of the Sri Lankan Rupees against the US dollar, reduction in interest rates, and the availability of ample foreign exchange facilitating the opening of letters of credit for this price reduction,” said LPG Cluster CEO, Dr. Niroshan J Pieris. “We must thank President Ranil Wickremesinghe and his team for creating these positive economic sentiments.”
The only private gas entity listed on the Colombo Stock Exchange (CSE), said that price of a 12.5kg domestic cylinder under the LAUGFS brand will be reduced byRs 625 to be at an MRP of Rs. 4,115 within the Colombo district along with other pack sizes.
Since the expiration of the trade monopoly held by multinational Shell Gas in 2000, LAUGFS Gas PLC has emerged as the sole private sector player in the LPG industry in Sri Lanka.
The post LAUGFS Gas announces price reduction appeared first on DailyNews.