Uncertainty over fuel supplies

News

A senior official at the Ceylon Petroleum Corporation told the Sunday Times that most foreign banks are refusing the letters of credits (LC) opened by Sri Lankan Banks. The official said that one oil supplying company too has resorted to take legal action against CPC as there was a backlog of payments due. He explained that due to the prevailing situation and backlog of payments suppliers are not interested in providing fuel. The official said that they are slowly issuing the remaining amounts of octane 95 Petrol and that too would last for a day, while Diesel which was issued without amount restrictions would now be issued with limits.

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