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| Litro Gas Lanka Chairman Muditha Peiris |
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Litro Gas Lanka Ltd., Chairman Muditha Peiris yesterday said that the company has transformed it into a strong State enterprise, whilst announcing that the price of domestic gas cylinders has been reduced from last night.
The price of a 12.5 kg cylinder has been reduced by Rs. 201, while the price of a 5 kg cylinder has been reduced by Rs. 80, and the price of a 2.3 gas cylinder has been slashed by Rs. 38. Accordingly, the 12.5 kg cylinder is now Rs. 4,409, while the 5 kg cylinder is Rs. 1,770 and the 2.3 kg cylinder is Rs. 822.
Previously, a 12.5 kg canister was sold at Rs. 4,610, while the 5 kg cylinder was Rs. 1,850 and the 2.3 kg cylinder was Rs. 860.
The price reduction came in based on the pricing formula introduced by the Government. He noted December as the highest month of LP gas used where the firm has issued over 33,000 tons.
The Chairman also said that the State-run company has achieved just over Rs. 1 billion last year, as they followed prudent cash flow management and the collective effort of the entire team.
“As of June 2022, the company had lost around Rs. 6.5 billion to Rs. 7 billion, but due to better financial management and teamwork we stepped into 2023 with a profit of over Rs. 1 billion. The company also settled all loans that were pending to several and today Litro is forging ahead as a strong State-run enterprise,” he added.
Peiris also said that the full amount of $ 70 million received by the World Bank to sustain the gas supply in July was settled to the treasury as previously announced in December 2022.
Litro Chairman believes there will be no shortage of LP gas till April 2024, as the company has already entered into a long-term agreement with suppliers and placed orders.
