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Discussions Underway To Import Fuel Using Available Funds: CB Governor Agrees To pay Outstanding Payments

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The Governor of the Central Bank has agreed to pay the outstanding payments due to the relevant companies for the fuel supply with a plan.

President Gotabaya Rajapaksa instructed the officials to take immediate action to import fuel using the existing funds available until then.

The President made these remarks at a discussion with the representatives of the main companies that have been importing and supplying fuel to Sri Lanka for a long time, yesterday (27) at the President’s House in Colombo.

It was decided to provide funds from the Central Bank and the Ceylon Petroleum Corporation to restore the supply of fuel.

It was also decided to hold discussions with the relevant mother companies to obtain fuel within a certain grace period if fuel is not made available as per the letter of credit (LC) opening procedure followed so far.

The President instructed to formulate a formal plan for the next few months to manage and maintain the fuel supply properly.

Fuel supply agents pointed out the need for direct engagement of the CB Governor and the Secretary to the Treasury with the companies supplying fuel, international banks and financial institutions.

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