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2024-06-26 11:54:12 +0300

Sri Lanka to Enlist Foreign Companies to Ease Fuel Shortages

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Bloomberg
By Ronojoy Mazumdar

Sri Lanka plans to allow foreign companies to distribute fuel in a bid to ease crippling shortages that have paralyzed most economic activity as the island nation grapples with a sovereign debt crisis.

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The government is preparing a cabinet paper that would allow for more fuel distributors, and is aiming for four new players -- with foreign companies permitted -- to operate state-run Ceylon Petroleum Corp’s filling stations, Energy Minister Kanchana Wijesekera said in a press conference. Currently only CPC and Indian Oil Corp Ltd’s Sri Lanka unit are permitted to distribute fuel.

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