Tuesday Nov 10, 2026
Tuesday Nov 10, 2026
Tuesday, 10 November 2026 00:50 - - {{hitsCtrl.values.hits}}
The Parliamentary Committee on Public Finance (CoPF) has called for an independent regulatory mechanism to ensure transparency in fuel pricing and fair competition between the Ceylon Petroleum Corporation (CPC) and private fuel suppliers.
The issue was raised at a committee meeting chaired by SJB MP Dr. Harsha de Silva, where members examined differences in fuel landing costs between the State-owned CPC and private importers.
Officials told the committee that the CPC meets part of domestic demand through its refinery, while private suppliers import all their refined petroleum products. Despite differences in import costs, private operators are required to price fuel based on rates announced by the CPC.
The committee expressed concern that the arrangement could create competitive distortions and called for a transparent pricing mechanism that takes account of import costs, taxes and distribution expenses.
Members also stressed the need to replace blanket fuel subsidies with targeted assistance for low-income communities and the public transport sector.
The meeting also examined proposed standards for imported vehicle tyres and changes to the Aswesuma welfare benefits programme.
The committee reviewed regulations issued under the Imports and Exports (Control) Act through Extraordinary Gazette No. 2508/27 dated October 1, 2026, and Supplementary Estimate No. 07 of 2026.
