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Karu praises COPF for serving national interest
The National Movement for Social Justice (NMSJ) led by former Speaker Karu Jayasuriya has lauded the Committee on Public Finance (COPF) for recognising the responsibilities of Parliament and acting in the interest of the public.
The NMSJ chief has appreciated the Acting Chairman COPF and all its members.
“We are making this assessment taking into account a decision taken in relation to a number of goods essential for the country’s construction sector, including the commodities that the people need daily.
Recalling their responsibilities and role it is also the duty of the society to encourage all members of those parliamentary committees including their chairmen.Accordingly, the Committee on Public Finance of the Parliament has made a decision to bring to a certain limit the illegal profits being made by the companies that import and distribute materials and goods required for the construction industry from the cement bag.
Also, the COPF has made a decision pointing out that the price of a kilo of bread flour can be maintained at a price of 198 rupees.
“We consider this intervention of the Parliamentary Finance Committee as a good gesture for the people, freed from the fights and useless debates that are often displayed in the Parliament, based on narrow political interests.
“At a time when Sri Lanka, as a country, is suffering from a huge economic crisis, it is the duty of every responsible institution to intervene and investigate the unfair practice that some importers are doing with the aim of making unlimited profits by ignoring the situation at all.
“There, the Parliament, which has been entrusted with the foremost responsibility for the formulation of policies, including the financial control of the country, has been entrusted with a responsibility that cannot be relinquished. Parliamentary committees also have an important role to play. As an organization, we have pointed out that many times. Accordingly, this step taken by the Parliamentary Finance Committee should be appreciated,” it said.
The NMSJ pointed out that it is very important for the Public Finance Committee to focus on the high interest rates that are having a strong impact on the medium-sized business community in this country.
The NMSJ said it is clear that the high interest rates maintained by commercial banks in the country are having a negative impact on the progress of the country.
“Taking into account the orders issued by the Central Bank of Sri Lanka in this regard, we take this opportunity to request the Public Finance Committee of the Parliament to intervene in this regard,” the NMSJ said.
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U.S. Navy ship USS Tulsa arrives in Colombo for replenishment visit
The U.S. Navy ship USS Tulsa (LCS 16) arrived at the Port of Colombo this morning, 7 October 2026 for replenishment purposes.
The visiting ship was welcomed by the Sri Lanka Navy in accordance with naval traditions.
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Fuel crunch looms
Govt. tells fuel distributors to maintain stocks to ensure uninterrupted supplies
by Saman Indrajith and Norman Palihawadane
The government had instructed private fuel distributors to maintain minimum stocks and ensure uninterrupted supplies to the market, Energy Minister Anura Karunathilaka told Parliament yesterday (06).
Karunathilaka said the Ministry of Energy Secretary had notified the relevant companies of the requirement, following a reduction in supplies by some private distributors, amid higher international fuel prices.
The Minister said private companies had informed the government that they were facing losses because international prices had risen while fuel was being sold, locally, at prevailing prices. As a result, some companies had reduced the volumes released to the market.
The reduced supplies had increased the burden on the Ceylon Petroleum Corporation (CPC), whose share of the diesel market had risen from about 54% to 82%, the Minister said.
“The CPC currently holds an 82% share of the market,” he said, adding that it had increased its supplies, compared with February, to compensate for the reduction by private distributors.
Karunathilaka said the government could not, under the existing agreements with private companies, specify the quantities they should supply to individual filling stations. However, it could require them to maintain minimum stocks in the country.
The Minister said the Energy Ministry had already instructed companies that had failed to maintain the required stocks to take steps to prevent supply disruptions.
The Minister attributed the queues reported at some filling stations to reduced supplies from private distributors, as well as normal variations in fuel distribution. He also said demand for CPC fuel had increased because private companies generally did not provide fuel to dealers on credit, while the CPC offered a three-day credit facility.
“We expect that, as the Ceylon Petroleum Corporation takes on this additional burden, the problem will ease to some extent by Wednesday or Thursday,” Karunathilaka said.
He said instructions had also been issued to increase supplies to CPC filling stations. A special discussion on the issue is scheduled for today (07), with officials of the Energy Ministry and CPC expected to participate,
along with President Anura Kumara Dissanayake.
Meanwhile, Petroleum Dealers’ Association officials have called for an early solution to the supply issue. Association Chairman D.V. Shantha Silva said queues had been reported at many filling stations, mainly those operated by private distributors.
He said the situation was not due to an overall shortage of fuel, but was linked to reduced orders by Lanka IOC, Sinopec and R.M. Parks amid concerns over losses incurred on fuel sales.
The Ceylon Petroleum Private Tanker Owners Association has urged motorists to refrain from panic buying, saying there was no nationwide disruption to fuel supplies.
The government earlier increased fuel prices and introduced a per-litre diesel subsidy following concerns raised by distributors over rising international prices.
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