No alternative but to increase price of gas: Litro

COLOMBO (News 1st); There is no alternative but to raise the price of gas cylinders, says Litro gas.

Its Chairman, Eng. Vijitha Herath stated this at a media briefing convened today (26) to clarify matters regarding the gas crisis.

The Chairman further emphasized that a price formula that is in line with the world market price should be introduced for gas, as the actual cost of a gas cylinder is close to Rs. 5,500.

The Chairman stated by March last year, the gas company had $ 14 billion. However, by now, the company owes another 10 billion to the banks, and the total loss has been calculated at $ 24 billion in total.

"When one gas cylinder comes to our terminal, the price of gas is only Rs4600. We sell for 2600. Of course, by now the actual cost of a gas cylinder is close to Rs. 5500.