Ceylon Chamber urges allowing private sector to import fuel for key sectors

Sri Lanka’s main chamber, the Ceylon Chamber of Commerce (CCC), in the context of the fuel crises and fuel rationing, has proposed the return of local bunkering companies to be allowed to import fuel independently to feed export industries and tourism companies.

The chamber was referring to a previous occasion, during the 2022 economic crisis, where the private sector was allowed to import fuel for strategic industries. On Monday, fuel rationing – in view of war in West Asia which has disrupted fuel supply – was introduced through the QR code system, with a weekly quota for all vehicles.

In a statement on Monday, the CCC said it had proposed to the government “several additional measures’ aimed at ensuring the continuity of economic activity while prioritising critical sectors. They are:

1. The Chamber recommended that the Government designate a clear list of essential services and priority economic sectors to guide the allocation of key resources including fuel and foreign exchange in the event of supply disruptions.
2. Recommend to adopt a strategic approach to fuel procurement, including exploring supply arrangements with a broader pool of international suppliers. Ensuring the availability of aviation fuel was also highlighted as critical to sustaining inbound tourism.
3. The Chamber further proposed allowing licensed local bunkering companies to procure fuel independently for supply to export-oriented industries and tourism operators, potentially on a foreign currency basis. Similar arrangements were successfully utilised during the recent economic crisis to sustain key sectors without adding pressure on domestic fuel supplies.
4. To help reduce fuel consumption while maintaining economic activity, the Chamber also suggested that public and private sector institutions consider flexible work arrangements, including work-from-home options where feasible. Additionally, the Government may consider bringing forward the closure of schools and universities ahead of the upcoming Awurudu holidays, while temporarily utilizing online learning options where possible.
5. The Chamber also recommended that non-essential foreign currency outflows be temporarily limited, while prioritizing foreign exchange for critical imports such as fuel, food, pharmaceuticals, and inputs required for export industries.

The Chamber, in its submission of March 11, 2026, to the government had recommended a number of policy measures aimed at mitigating potential economic risks. These included prioritising the continuation of the IMF programme and the timely receipt of upcoming tranches, as well as the introduction of a more dynamic fuel pricing mechanism and the re-introduction of the QR system for fuel distribution. “The Chamber is pleased to note that steps have already been taken towards implementing these fuel-related measures,” the statement said.

The Chamber emphasised that close coordination between the Government and the private sector will be critical in navigating potential global shocks and maintaining economic stability.