Delay in opening LCs cause for fuel rush - Minister

COLOMBO (News 1st); Sri Lanka's Minister of Power and Energy Kanchana Wijesekera noted that the fuel shipment that reached Sri Lanka on Thursday (16) is the final shipment under the Indian Line of Credit and NOT the final shipment ever to reach the country.

'This shipment comprises of 44,000 MT of Diesel and it is being subject to quality checks. Once it is cleared, the shipment will be unloaded on Thursday (16) evening," he told reporters.

The Minister said that the Cabinet-appointed Sub-Committee granted approval to enter into agreements with two entities to import Petrol and Diesel to Sri Lanka in the long term.

"These agreements are letters of Awards. We have sent them the legal documents. The suppliers have also sent their details. The state bank will open the Letters of Credit for this purpose," he said.

Minister Kanchana Wijesekera said that when the Letters of Credit are opened, he will be able to detail the next shipments of Petrol and Diesel to Sri Lanka.

He said the present congestion for fuel was caused because of the unexpected delay in opening Letters of Credit for shipments that were expected on the 9th and 10th of June 2022.

However, he said the government expects to access one of the shipments within three days.