NO Fuel Price Increase & Govt to settle CEBs Rs. 80 Bn debt to CPC

COLOMBO (News 1st); Sri Lanka's Environment Minister Mahinda Amaraweera assured that there will be no fuel price increase, following a special cabinet meeting this evening.

He said fuel prices will be maintained at their present rates, despite global prices hitting a new high.

The Minister said the meeting was centered on ensuring a continuous supply of electricity & fuel to the people and payment was released on Tuesday (22) for the fuel ship that arrived in Colombo.

He also said the cabinet in unison agreed that there should be no shortage in the supply of fuel.

Further, the government has agreed to pay the money owed by the Ceylon Electricity Board to the Ceylon Petroleum Corporation, said the Minister.

"The CPC will receive a sum of approximately Rs. 80 Bn from the banks," he added.