News
Govt. throws open retail fuel market to new players from oil producing countries
By Ifham Nizam and Rathindra Kuruwita
The Cabinet of Ministers has approved a proposal to allow companies from oil producing nations to import oil and start retail operations in SriLanka.
The Department of Government Information announced the decision yesterday (28) issuing a statement.
The proposal was made by Minister of Power and Energy Kanchana Wijesekara.
The Cabinet also approved a proposal to allow companies registered for bunkering operations, under the Sri Lanka Ports Authority (SLPA) to import jet fuel.
Sri Lanka needs 1.2 million litres of jet fuel a day for planes. However, the CPC is not able to procure adequate quantities of aviation fuel.
The Minister of Power and Energy had thus made a proposal to allow above-mentioned companies to import jet fuel to ensure that air travel can continue without any hindrance.
Power and Energy Minister Wijesekera, who is in Qatar on a trade mission, yesterday tweeted that through companies would be selected on the ability to import fuel and operate without forex requirements from the Central Bank of Sri Lanka and Banks here for the first few months of operations.
He stressed that the Ceylon Petroleum Corporation would be the service provider for logistics, stocking and distribution with a service fee charged from the companies.
Minister Wijesekera said selected outlets of the existing 1,190 CEYPETCO and new outlets would be made available for Lanka Indian Oil Company and new companies to be selected, he added, noting that the Sapugaskanda oil refinery would continue to operate under the CPC.
At a special media briefing, Media Minister Bandula Gunawardena said that fuel issuance would be restricted to vehicles attached to essential services until 10 July.
The CPC would supply diesel and petrol only to essential services such as ports, health sector, distribution of essential food items, and transportation of agricultural products hereafter, the Cabinet spokesperson noted.
The Cabinet of Ministers had also decided to continue essential services and suspend other operations until the 10 July, the Minister said.
He went on to assure that a mechanism to provide a continuous supply of LP gas and fuel would be in place after 10 July.
Inter-provincial transport services would be temporarily halted due to the availability of limited stocks of fuel, he added.
The Department of Government Information said that at present 90 percent of Sri Lanka’s fuel supply was handled by the Ceylon Petroleum Corporation (CPC), and the remaining 10% by Lanka IOC.
The Cabinet of Ministers approved the resolution furnished by the President, in his capacity as the Minister of Finance, Planning and Economic Development to submit the following notification / order / rule published in the government gazette notification to the Parliament for its concurrence:
• Notification on the revision of tax limit of luxury on motor vehicles under the Finance Act No. 35 of 2018 published in the extraordinary gazette notification No. 2421 / 41 dated 31.01.2025.
• Rule issued under the Production Levy (Special Provisions) Act No. 13 of 1989 on revision of production levy rate for vehicles operated with electricity published in the extraordinary gazette notification No. 2421 / 42 dated 31.01.2025
• Order issued under the Finance Act No. 25 of 2003 on extension of the period on which the 50% relief is active which is given to the deviation levy published in the extraordinary gazette notification No. 2421 / 30 dated 31.01.2025
Although there are legal provisions for the right to publish, technical planning, right of patent, trademarks and enterprises etc, in the Intellectual Property Act No. 36 of 2003, there are no provisions for securing the rights of plant species (relevant to breeders, researchers and farmers).
In addition, no patents can be issued for flora and fauna according to the provisions of the intellectual rights act. Therefore, approval of the Cabinet of Ministers was granted at their meeting held on 22.05.2024 to introduce a new act for securing the rights of plant species.
Wherefore, the Legal Draftsman has pointed out that policy approval of the new Cabinet of Ministers should be taken to complete the drafting of the new flora species rights securing act.
Accordingly, the Cabinet of Ministers granted approval to the proposals submitted by the Minister of Agriculture, Livestock, Lands and Irrigation for the preparation of the said draft bill.
Latest News
National minimum monthly salary for private sector employees raised to Rs. 27,000/-, minimum daily wage to Rs. 1080/-
Parallel to salary hike of public sector officers by the budget proposals 2025, it has been proposed to increase the salaries of private sector employees as well.
Accordingly, the Cabinet of Ministers granted approval to the proposal submitted by the Minister of Labour to revise the national minimum monthly salary and national minimum daily wage and follow other legal actions as follows:
• To raise the minimum national monthly salary by rupees 9,500/- from rupees 17,500/- to rupees 27,000/- with effect from 01.04.2025
• To raise the minimum national daily salary by rupees 380/- from rupees 700/- to rupees 1,080/- with effect from 01.04.2025
• To raise the minimum national monthly salary by rupees 3,000/- from rupees 27,000/- to rupees 30,000/- with effect from 01.01.2026
• To raise the minimum national daily salary by rupees 120/- from rupees 1,080 /- to rupees 1,200/- with effect from 01.01.2026
Submission of gazette notifications for the concurrence of the Parliament.
Cabinet approval to prepare new Act for securing the rights of plant species
National minimum monthly salary for private sector employees raised to Rs. 27,000/-, minimum daily wage to Rs. 1080/-
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