After a long discussion between President Maithripala Sirisena and Minister of Finance and Media Mangala Samaraweera, it has been decided to reduce the price of Kerosene to Rs 70 a liter.
This decision was made by President Sirisena after low income groups within the fisheries sector opposed the price hike that took effect on the 10th of May 2018, when the prices of fuel was revised.
The price of Kerosene skyrocketed from Rs 44 to Rs 101 per liter.
Earlier the Ministry of Fisheries had been entrusted with preparing a program to assist the low income groups due to this hike.
This was as providing cash subsidies to mitigate the increase was not found to be a reasonable solution to the problem.
Initial discussions that had taken place among officials of the Ministry of fisheries, Ministry of Finance and Fisheries Trade Unions had sought a reduction to have the price of Kerosene fixed at Rs 80 a liter.
However a final decision on this subject will be made by President Sirisena after he meets Minister Samarawera once again tomorrow, the 11th of June 2018.