NATIONAL

Grant Tax Concessions on fuel imports or increase fuel prices

(UTV | COLOMBO) – The Ceylon Petroleum Corporation (CPC) has requested the Ministry of Finance to grant concessions for the taxes imposed on fuel imports or increase the prices of fuel amidst the prevailing economic situation.

According to the Ministry of Energy, the CPC incurs a massive loss in continuing the sale of fuel at the current prices, given the prevailing situation in the country.

The Energy Ministry has further pointed out that obtaining the required US dollars for importing fuel is also a challenge at present, due to the lack of Rupees.

There is an impending crisis in procuring fuel required to meet the domestic demand, due to the shortage of foreign currency, a high-ranking official at the Energy Ministry told News 1st.

Accordingly, the CPC has requested the Ministry of Finance to grant tax concessions for fuel imports or increase fuel prices.

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