Govt.’s select fuel price reduction a ‘gimmick’: Ex-PUCSL Chief

Thursday, 7 March 2024 03:23 - - {{hitsCtrl.values.hits}}

PUCSL Commissioner Janaka Ratnayake

Says move misleads public, prices could be slashed by up to Rs. 200
Questions accuracy of fuel prices published via Minister’s social media, allege both incorrect prices and formula
Highlights people’s rights, calls civil organisations to demand better policies
Accuses Govt. of prioritising IMF directives over public welfare

Former Public Utilities Commission of Sri Lanka (PUCSL) Commissioner Janaka Ratnayake criticised the recent select fuel price revision by the Government, labelling it as a mere gimmick aimed at misleading the public. Speaking to the media, Ratnayake expressed that the reduction of Rs. 9 and Rs. 10 respectively for Lanka Super Diesel 4 Star Euro 4 and Lanka Petrol 95 Octane Euro 4 was insufficient and misleading the people.

Ratnayake said that back in 2022, he had indicated that fuel prices could be slashed by up to Rs. 200.

Further scrutinising the accuracy of the fuel prices posted on the Power and Energy Minister Kanchana Wijesekera’s official ‘X’ account, he asserted that both the published prices and the underlying formula were incorrect.

According to him, a thorough assessment of global market trends would reveal that fuel prices could be significantly reduced, contrary to the modest adjustments made by the Government.

“If we calculate the fuel prices according to the trends of the world market, the fuel prices can be reduced by a maximum of Rs. 200. The people and civil organisations have the right to fulfil their demands by forcing the Government to do the right things,” he stressed.

Ratnayake accused the Government of making decisions influenced by the International Monetary Fund (IMF) rather than prioritising the welfare of its citizens.