President directs officials to import fuel using funds in hand

President Gotabaya Rajapaksa yesterday directed officials to hurry import of fuel using funds in hands. 

The President’s Media Office said the Central Bank Governor Dr. Nandalal Weerasinghe has agreed to pay the outstanding payments due to the relevant companies for the fuel supply with a plan. President Gotabaya Rajapaksa instructed the officials to take immediate action to import fuel using the existing funds available until then.

The President made these remarks at a discussion with the representatives of the main companies that have been importing and supplying fuel for a long time yesterday.

It was decided to provide funds from the Central Bank and the Ceylon Petroleum Corporation to restore the supply of fuel.

It was also decided to hold discussions with the relevant mother companies to obtain fuel within a certain grace period if fuel is not made available as per the Letter of Credit (LC) opening procedure followed so far.

The President instructed to formulate a formal plan for the next few months to manage and maintain the fuel supply properly.

Fuel supply agents pointed out the need for direct engagement of the CB Governor and the Secretary to the Treasury with the mother companies supplying fuel, international banks and financial institutions.

Power and Energy Minister Kanchana Wijesekera, Secretary to the President Gamini Senarath Principal Advisor Lalith Weeratunga, Chief of Staff Anura Dissanayake Finance Secretary Mhinda Siriwardena, Power and Energy Secretary Mapa Pathirana and the Heads of Energy Institutions and Fiscal Institutions were also present at this discussion.