'By controlling supply, forex outflow for fuel reduced' - Cabraal

COLOMBO (News 1st); Sri Lanka's Central Bank Governor Ajith Nivard Cabraal had said that by controlling the supply, the outflow of foreign exchange for fuel will also be reduced.

The Department of Government Information quoting the Central Bank Governor tweeted that the country is unable to keep subsidizing fuel aggressively amidst the dollar crunch.

The Central Bank Governor was quoted as saying that Sri Lanka is now paying closer to what neighbouring countries such as India are paying for a liter of Petrol.

He had noted that compared to a liter of Premium petrol currently Rs. 210/- in Sri Lanka, Indians are paying Rs. 266/- per litre.