Champika promises a new fuel, power price formula

Tuesday, 20 January 2015 00:42 - - {{hitsCtrl.values.hits}}

A new pricing formula on fuel and electricity is to be introduced soon, Power and Energy Minister Champika Ranawaka said yesterday. Speaking to reporters in Kandy after meeting the Chief Prelates, the Minister said that while world oil prices have gone down, Sri Lanka had signed contracts, under the previous Government, to purchase oil for a higher price.

He said that as promised by the new Government, the price of fuel will be reduced and a new pricing formula will be introduced so the public know how much and why they are paying the amount they pay in future for fuel and electricity. The Minister said that a tax will not be imposed on fuel and Sri Lanka’s own fuel resources available at sea will also be utilized in future. He also assured that action will be taken against any Minister or official of the previous Government found guilty of corruption, even if they support President Maithripala Sirisena’s 100 day program. Several former Ministers and Parliamentarians had offered to support Sirisena after he won the election beating former President Mahinda Rajapaksa. (Colombo Gazette)