The Government says the revision of the price of kerosene was a must.
Energy Minister Kanchana Wijesekera said that one reason the Ceylon Petroleum Corporation (CPC) was running at a loss was because kerosene was being sold at a subsidised price.
He said that the Government has now proposed a direct cash subsidy to low income families, fisheries and plantation sectors that depend on kerosene.
“Kerosene price revision was a must for many years. One main reason for CPC losses was selling at subsidized prices. With prices now on par with costs the Govt has proposed a direct cash subsidy to low income families, fisheries & plantation sectors that depend on kerosene,” the Minister tweeted.
The Minister said that the direct cash subsidy was proposed by the President when the pricing revisions was discussed.
“The line ministries will have to work with the Finance ministry to identify the low income families & sectors that will need the cash grant,” he added.
The price of kerosene was increased by Rs. 253 from today.
As a result the price of a litre of kerosene has been increased from Rs. 87.00 to Rs. 340.00. (Colombo Gazette)
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