Labour Minister and Economic Development Deputy Minister Prof. Anil Jayantha Fernando rejected Opposition allegations regarding the Government’s stance on the Adani Group’s investment and fuel pricing, emphasizing that all investments are evaluated with full transparency, regardless of the investor’s identity or country of origin.
Speaking in Parliament yesterday, Prof. Fernando clarified that the Government is committed to expanding investments in multiple sectors, including energy. He dismissed claims that the Adani Group had “suspended” or “pulled back” from its projects in Sri Lanka, calling such assertions misleading.
Addressing concerns over power purchase agreements, he explained that before the current administration took office, a 20-year agreement had been signed at US cents 8.26 per unit, which was deemed a high rate. During a pre-election visit to India, discussions revealed that Adani supplied power to the Indian grid at US cents 3.50 per unit. When questioned about the price difference, Adani officials cited investment risk factors as the reason. Consequently, the matter was referred to the Cabinet for further review to ensure transparency.
On fuel pricing, Prof. Fernando rejected Opposition claims that the Government was overcharging consumers by adding a Rs.10 surcharge above production costs. He stated that under the Government’s pricing formula, the production cost of petrol stands at Rs. 308.89 per litre, while the retail price is Rs. 309 per litre, proving there is no excessive markup.
“The Opposition is deliberately spreading false information to mislead the public,” Prof. Fernando asserted, reaffirming that Sri Lanka welcomes all investors fairly and transparently without giving undue preference to any company or country.
