ECONOMYEXT – Sri Lanka to introduce a weekly fuel disruption plan for consumers in the first week of July to manage the finances, Power and Energy Minister Kanchana Wijesekera said.
“We have no choice but to register consumers at filling stations and give them a guaranteed weekly quota until we are able to strengthen the financial situation, restore 24 Hour Power and a steady supply of fuel,” Wijesekera said in a Tweet.
“I hope to have this system in place by the 1st week of July.”
1) Fuel Update – Until we have uninterrupted power supply n steady fuel supply, fuel line management will be impossible. With the Financial restrictions, CPC imports fuel to manage for a week but some consumers collect Fuel for a month or more for their machinery n generators.
— Kanchana Wijesekera (@kanchana_wij) June 12, 2022
The energy minister was already on the hunt to buy fuel for June.
“With the Financial restrictions, CPC imports fuel to manage for a week but some consumers collect Fuel for a month or more for their machinery n generators,” Wijesekera said.
According to data published by the Minister, State-run Ceylon Petroleum Corporation needed 554 million dollars to import fuel and 100 million was from the Indian Credit Line.
He said the monthly fuel bill that was 200 million dollars four months ago has hot up to 550 million dollars currently.
“24 Hour Power Supply costs an additional USD 100 million monthly for Diesel, Furnace Oil and Naptha. Shortage in Gas supply has increased the demand for Electricity and Kerosine,” Wijesekera said.
“Until we have uninterrupted power supply n steady fuel supply, fuel line management will be impossible.”