- Last Update 2025-05-01 23:03:00
Minister Samaraweera reveals oil pricing formula
Finance Minister Mangala Samaraweera revealed the oil pricing formula at a press briefing held today.
The break down of the formula is as follows :
The price of oil, acording to the minister, is obtained by a formula V i + Vii + V iii + V iv
V i = Cost incurred in Singaporean Platt's price when purchasing a barrel of oil and the exchange rate of the rupee
V ii = Production cost
V iii = Adminsitrative expenses
V iv = Cost incurred as taxes
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Rs 30 million worth tabs and mobiles left behind at duty free shop
Customs have detected 228 mobile phones and tabs valued at over Rs 30 million left behind in the duty free shopping complex at the Banaranaike International Airport today, Customs officials said.
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Your Sunday Times highlights for this week
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