CBSL agrees to release money for due payments for fuel

COLOMBO (News 1st); The Governor of the Central Bank has agreed to pay the money owned to the relevant companies for the fuel supply with a plan.

President Gotabaya Rajapaksa has instructed officials to take immediate action to import fuel using the money available until then.

The President made this observation at a discussion between the President and representatives of the major companies that have been importing and supplying fuel to Sri Lanka for a long time today (27) at the President's House, Fort.

It was decided to provide funds from the Central Bank and the Ceylon Petroleum Corporation for the restoration of the oil supply and to discuss with the relevant parent companies to obtain fuel within a specified period of time if fuel is not available as per the letter of credit opening procedure followed so far.

The President also instructed to formulate a formal plan for the next few months to manage and maintain the fuel supply properly.

The Governor and the Secretary to the Treasury pointed out the need for direct engagement with the parent companies supplying fuel, international banks and financial institutions.