Potential fuel quota increase following evaluation: Minister

Friday, 21 July 2023 00:24 - - {{hitsCtrl.values.hits}}

Power and Energy Minister

Kanchana Wijesekera

Govt. reviews fuel cargo plan and supply
Analysts opine likely increase in fuel quotas will have positive impact on overall economic activities

Power and Energy Minister Kanchana Wijesekera revealed yesterday that fuel quotas might see a further increase next month.

The decision comes after a comprehensive evaluation of fuel cargo plans and supply for the upcoming six months, carried out by the Ceylon Petroleum Corporation (CPC).

The Minister shared the update on Twitter, providing insights into the discussions held during a meeting yesterday convened by the CPC, which covered a range of crucial aspects concerning the country’s fuel management.

Fuel import plans, refinery operations, refinery upgrade proposals, QR quotas storage capacity, stock automation, distribution, and agreements with fuel stations were among the topics discussed.

The comprehensive evaluation of these aspects will serve as the foundation for determining the appropriate increase in fuel quotas for the following month.

Analysts opined the potential increase in fuel quotas in August is likely to have a positive impact on consumers and businesses alike. “With a surge in economic activities and the resumption of various sectors, a steady and reliable fuel supply is crucial to sustain the momentum of growth,” they pointed out.