Jul 14, 2018

Arjuna fights for fuel price revision! Featured

Petroleum Resources Development Minister Arjuna Ranatunge has presented a Cabinet proposal requesting that the petroleum price control be handed over to him.

From June 26, the fuel revision rights was handed over to a committee and subsequent to this committee deciding on the fuel pricing and notifying the Finance Minister, he would revise the fuel prices.  

Arjuna is seeking the authority to revise fuel prices based on the provisions in the 1961 Ceylon Petroleum Corporation Act, paragraph 66, stating that based on the approval of the Finance Minister it is the Petroleum Minister who can decide on the fuel prices.

The Petroleum Minister had cited that provision and sought Cabinet approval for the right to decide on fuel pricing.

The proposal also seeks that in appointing members to this committee, the Secretary of the Petroleum Resource Development Minister be appointed as the Chairman of this committee.

Ranatunge has asked for the authority for the committee to decide on the fuel pricing and notify their decision to the Petroleum Minister so that he would discuss it with the Finance Minister and have the subject minister announce the decision.