Tag: Government

The crisis-ridden Government is to allow international oil companies to operate fuel import and distribution in Sri Lanka ending the oligopoly of Ceylon Petroleum Corporation (CPC) and Lanka Indian Oil Company, a senior energy ministry official said.

Sri Lanka is now facing unprecedented fuel and food crisis paralysing the whole country and the people will have to starve as a result of the break down in the supply chain with in the next few weeks, traders and food commodity transporters claimed

Foreign exchange income from tourism, the largest services inflow to Sri Lanka after remittances, more than halved in May as the island nation’s economic crisis and the resultant social unrest appears to be getting worse, Sri Tourism Development Board sources said.

In a devastating move against the island nation, China has resolutely held back its assistance to avert the man-made economic crisis , despite being Sri Lanka’s single biggest bilateral investor and a consistent and unreserved supporter in the UN Human Rights Council.

With the increase of Ceylon Petroleum Corporation (CPC) fuel prices, the government will be compelled to control fuel distribution as oil reserves are currently dwindling