Joint LIOC, CPC fuel price formula mooted

A joint pricing formula for Lanka Indian Oil Company (LIOC) and the Ceylon Petroleum Corporation (CPC) is under discussion, Power and Energy Minister Kanchana Wijesekera stated.

The Minister said that a detailed report on the causes of the crisis and the existing management weaknesses with regard to fuel and power would be submitted to Parliament.

He was responding to questions from members of the Committee on Parliamentary Business yesterday (April 28).

Minister Kanchana Wijesekera and Trade and Samurdhi Development Minister Shehan Semasinghe, Secretaries to those Ministries and other officials participated in the Committee on Parliamentary Business yesterday to discuss the current crisis regarding the energy, electricity and gas supply in the country.

Minister Wijesekera told the Committee members, including Party leaders, that two new Secretaries have been appointed to the two Ministries and that he would work with the officials to manage the current situation and overcome the crisis in the coming days. The Minister said that the Muthurajawela Terminal is working around the clock to ensure the continuous supply of petroleum and that the staff including the relevant officials are working with maximum dedication.

He said that payments were made yesterday for a coal ship needed to generate electricity and accordingly the required coal will be available until next September.

The Minister said that priority will be given to the fuel required for power generation and that steps will be taken in the near future to amend the laws to enable CEB to purchase fuel directly. Members of the Committee also paid special attention to the obstacles that stand in the way of the use of renewable energy to the power grid of the country.

Accordingly,the Committee Members pointed out that an All Party Committee should be established and the renewable energy sources should be expanded. The Ceylon Electricity Board Chairman said necessary Amendments will be made to the relevant Acts and that through these Amendments it will be possible to add more renewable energy to the power grid of the country.

(Source: Daily News)