CB pays US$ 35.3 M to release 37,500 MT fuel

The Central Bank has released 35.3 million US dollars to release the stock of fuel in one of the fuel tankers docked at Colombo Port today, an Energy Ministry official said.

He said the ship contains 37,500 metric tons of diesel and discussions are ahead to release diesel and petrol stocks in two more ships docked at the port. 

The release of payment is made following the President Gotabaya Rajapaksa’s order at Tuesday’s special Cabinet meeting over the fuel crisis. 

At yesterdays’ meeting there was no decision made on the price increases on fuel. It was decided that the government will pay the outstanding amount the Ceylon Electricity Board (CEB) owes to the Ceylon Petroleum Corportation (CPC) for the supply of fuel for electricity generation. 

The official said the Ministry of Finance has paid Rs. 20 billion out of the Rs. 80 billion the CEB owes to the CPC. He said the payment of the outstanding 60 billion is in the process. 

Meanwhile, long vehicle queues near fuel stations are a common sight throughout the country with some extending several kilometres. Our correspondent from Dambulla captured vehicle queues in Dambulla where the majority of vehicles were transporting fresh produce. (Pix by Kanchana Ariyadasa)