Cabinet nod to procure fuel consignment from IOC

The Cabinet of Ministers on Monday approved to procure a consignment of fuel from the Indian Oil Company (IOC).

“This was a result of the request made by the President Gotabaya Rajapaksa to IOC,” Energy Minister Udaya Gammanpila told the Daily FT. 

The Ministry has held discussions with the IOC to procure 40,000 metric tons of diesel and 40,000 metric tons of petrol and has agreed to supply a shipment of 40,000 metric tons of diesel.

“The IOC has an excess production of diesel as oppose to petrol, hence they first agreed for the diesel consignment,” Minister Gammanpila explained.

The proposal tabled to this effect by the Energy Minister was approved by the Cabinet of Ministers to take further measurers to procure the said oil shipment.