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Major revision in fuel-buying process
View(s):By Damith Wickremasekara
Petroleum Industries Minister Anura Priyadharshana Yapa is making drastic changes in the fuel procurement process.
He told the Sunday Times yesterday that the move was prompted by previous incidents of low quality fuel entering the market and purchasing fuel at higher prices.
Under the plan, the Government is to drop several international fuel suppliers registered with Sri Lanka.“Buying from smaller companies has turned out to be disadvantageous with regard to prices,” Mr. Yapa explained. In terms of the new policy, some 72 registered international fuel suppliers will be rescrutinised and purchases will be made only from companies that can provide constant supplies and quality fuel.
Ceylon Petroleum Corporation (CPC) Managing Director Susantha Silva said the suppliers would be grouped into three categories: Companies that have their own oil refineries, companies involved in large scale fuel supplies and small-scale suppliers.
He said the CPC would give preference to the first category because their prices were stable.
“The major companies have the capability of keeping the fuel prices steady and purchases from them will help keep the local prices stable. Besides, the Government could buy fuel from them on credit – a facility which small companies could not offer,” he said.
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