Troubled Laugfs Gas says no decision to stop imports

News

While dealers of Laugfs Gas reported a shortage in stocks, the company has informed the Colombo Stock Exchange (CSE) - in a notification - that it has not taken a decision so far to stop imports.

However officials of the company said on Tuesday that they have suspended imports due to the banks not being able to open LCs to import fuel due to a shortage of US dollars. The company’s repeated demand to increase gas prices due to a global increase in gas prices has also been refused by the authorities.

Laugfs supplies 30 percent of the country’s domestic gas requirement.

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