Cabinet directs Legal Draftsman to prepare law to set up petroleum regulator

Wednesday, 11 September 2024 00:24 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved directing the Legal Draftsman to prepare a draft law to set up a petroleum regulator.

On 25 April, the Cabinet approved appointment of a committee to study the establishment of regulatory mechanisms for the petroleum, liquefied petroleum gas, liquefied natural gas (LNG) and lubricating oil sectors in Sri Lanka and to submit the recommendations in that respect.

“The committee has approved the setting up of a new regulatory body for the petroleum sector,” the Cabinet Spokesman and Minister Bandula Gunawardena said at the weekly post-Cabinet meeting media briefing yesterday.

The proposal to this effect submitted by Power and Energy Minister Kanchana Wijesekera was approved by the Cabinet of Ministers.