Fuel price formula will return – Mangala
Posted by Editor on December 20, 2018 - 1:28 pm
Minister of Finance Mangala Samaraweera says that the fuel price formula will be reinstated.
Samaraweera, assuming his duties at the Ministry, said that the cabinet approved the vote on account for four months and that will be presented to the Parliament tomorrow (21).
Latest Headlines in Sri Lanka
- Duminda Dissanayake remanded until May 29 over gold-plated T56 firearm May 24, 2025
- Sri Lanka probing use of Rs. 22 Trillion obtained through loans May 24, 2025
- Sri Lankan PM assures no land will be taken from people in North and East May 24, 2025
- Malini Fonseka passes away May 24, 2025
- Deputy Commissioner and two DMT officials arrested with Rs. 4 Million in bribes May 23, 2025
Of course Mangala,
We are returning to the dark days of Yahapalana after 51 days of freedom, inspiration, development and growth under the perfect MR Government.
Mangala, please note oil prices have dropped by 33% since you were given the boot on 26 Oct; I hope your formula recognises this fact and reduce fuel costs by 1/3rd too.
we dont have the resources to stockpile crude for our storage capacities are monopolised by the indians. indians have been struggling to find oil deposits so far it has failed! so they have torely on the arab world. In spite of large indian population in the african continent they have done little to promote the african dream for indians feel that they are a better breed!
Samaraweera has to buy crude only when he can afford like what most households in sri lanka do buy when they have the money…. there is nothing unique about samaraweeras formula. This applies to hi foreign exchange dealings and the rates are determined by the supply and demand and the few dollars that are available are auctioned since the balance of paymnets are unfavlourable the dollar reserves are running low and on the verge of drying up! we will end up like veneauela…unfortunately there is no place where Lankans could end up in .