Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Cabinet approves reducing price of kerosene despite loss of Rs. 5.7 million a day to the government
Tue, Jun 12, 2018, 09:00 pm SL Time, ColomboPage News Desk, Sri Lanka.

June 12, Colombo: The Cabinet has given approval yesterday to reduce the price of kerosene to Rs. 70 from Rs. 101 per liter. The kerosene price was increased by 57 rupees from Rs. 44 per liter during the recent revision of fuel prices on May 10.

This decision has been taken as a relief measure for low income families and the fishing community.

On several occasions fishermen asked for a fair price for kerosene which is used to power their fishing boats. The Ministry of Fisheries said that after discussions with the President and the Prime Minister, the kerosene price was reduced to provide relief to the fishermen.

Kerosene price was heavily subsidized to benefit the low income families that do not have electricity and the fishermen community. However, it has been revealed that some bus and lorry owners and some industrialists are taking advantage of the subsidy using kerosene as fuel, State Minister of Fisheries and Aquatic Resources Development Dilip Wedaarachchi says.

Meanwhile the Ministry of Finance says the producing a liter of kerosene costs Rs. 100 and the government incurs a loss of Rs. 30 from every liter of kerosene at the reduced price. The government will incur a loss of Rs. 5,715,000 per day due to the subsidized price, the Finance Ministry says.

However, the fisher community says the government reducing the kerosene price is a great relief for the fishermen.

 

ColomboPage - Recent 10 Stories ::
National fund to be established to ensure protection of children
-- [53 minutes ago]
Lifetime ban for fishing boat skippers engaged in human smuggling
-- [1 hour and 24 minutes ago]
Sri Lanka President appoints interim authority to rehabilitate drug addicts
-- [2 hours ago]
'We need to act before we extinguish ourselves'- Chandrika Kumaratunga
-- [2 hours ago]
Sri Lanka to launch its first satellite in April
-- [3 hours ago]
India awards prestigious Mahatma Gandhi Scholarships to 150 students across Sri Lanka
-- [4 hours ago]
Carbon dating report of Mannar mass grave bone samples presented to court
Five new BOI projects to start in Jaffna
CID to question OIC of Southern Province Special Crime Investigating Unit over the abduction of two businessmen
Issuing e-Health cards to public starting tomorrow from Kalutara District

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.