Central Bank insists on fuel price hike

Fuel pumping

The Central Bank has inspired that fuel prices should be revised to conform to spikes in the world market, a Minister said today.

The Central Bank representatives , including Governor W.D.Lakshman, had a meeting with Prime Minister Mahinda Rajapaksa yesterday.

State Minister Ajith Nivard Cabraal who was present at the meeting said it was a frank and cordial discussion on measures to be taken for the economic consolidation.

He said the Central Bank was straightforward in its request for the upward revision of fuel prices.

Also, he said measures related to imports and the stabilization of the rupee value were among key matters discussed.

“We will come up with the government’s response to the Central Bank’s requests ,” he said.

(Source: Daily Mirror – By Kelum Bandara)