Fuel Tax to Be Removed After CPC Debt Settlement – Minister Jayakody

Date:

Power and Energy Minister Kumara Jayakody informed Parliament that the Rs. 50 tax on fuel will be removed once the Ceylon Petroleum Corporation’s (CPC) debt, previously absorbed by the Treasury under the former government, is fully repaid.

The Minister said that of the Rs. 884 billion in CPC debt taken over by the Treasury, nearly half has already been settled, and that only standard government taxes are currently being imposed on fuel.

Responding to a question raised by SJB MP Dayasiri Jayasekara on July 22, Minister Jayakody clarified that the fuel surcharge was introduced specifically to address CPC’s liabilities, and not as a permanent levy. He further stated that the Government is conducting investigations into possible fraudulent fuel sales that may have occurred during the period from September 21, 2023 to September 20, 2024.

Minister Jayakody also advised MP Jayasekara to stay informed about the fuel pricing formula and refrain from making unsubstantiated allegations regarding fuel taxes and pricing mechanisms.

Share post:

spot_imgspot_img

Popular

More like this
Related

Elon Musk Becomes World’s First $500bn Individual

Elon Musk has made history by becoming the first...

Leeds International School Matugama Prefects Shine Through Heart-warming CSR Initiative

Rashika Hennayake october 03, Colombo (LNW): The initiative focused on...

Sri Lanka’s FDI Ambitions Stumble amid Policy Instability

Sri Lanka’s newly elected government one year ago set...

Sri Lanka’s Current Account Surplus Expands to $2.04 Billion amid Rising Remittances

Sri Lanka’s current account surplus grew sharply during the...