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‘Litro Gas incurring heavy losses as a result of not revising prices’

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By Hiran H.Senewiratne

Litro Gas is now in a position to refill and distribute Laugfs LPG gas cylinders provided proper legal clearance is made. Litro Gas is incurring heavy losses and is about to exhaust its reserves, because it has not revised its prices despite the high world market price, a senior gas industry source said.

“Litro Gas now has an over 80 percent market share in the domestic gas market and if requested could meet the total demand of LPG cylinders. There is no major technical/safety issue in refilling/ crossing filling Laugfs with Litro. However, there is a legal issue as the Laugfs cylinder is not our property, the source said.

“Litro has grown its strength and could easily move in to fulfill the total domestic LPG gas requirement, president, LP Gas Distributors Association Sathyendra Wijayapura told the Island Financial Review.

Wijayapura added: “Our association could take over Litro Gas Company by investing in it to supply gas in an uninterrupted manner in keeping with Litro’s former multinational company, Shell’s, business model. We have funds to invest in Litro Gas but also need to import another 150,000 cylinders to manage operations.

“Laugfs Gas commenced operations 20 years ago, initially as an auto gas alternative before moving in to

LPG. Today, the heavily debt- ridden company owns tankers and a large LPG storage facility at Hambantota, widely seen globally as a non-performing asset, but finds itself at the center of controversy, brought on by the fact that the common platform recommended for the LPG industry is allegedly favouring Laugfs.

“Laugfs was also given approval to increase the price of domestic gas with the Consumer Affairs Authority approving the price of a Laugfs 12.5kg cylinder to be increased. But Litro Gas has not revised its prices for the last two years and when the Litro Gas price was revised two years ago one metric ton of gas cost US $ 350 and now it has increased to US $ 800 in the international market.

“Therefore, Litro Gas Company is making operational losses due to the LPG price hike in the global market. However, as a responsible company it is not out to put additional pressure on the public and would not look for an immediate price hike.

“Subsequently, Laugfs Gas Chief Executive Chaminda Ediriwickreme was quoted as saying that they have placed an order for a shipment and expect to re-start operations in a small way on August 20. However, this is yet to be a reality.

“We also want to say that it’s not practical to merge with Laugfs forming a new company and we oppose this move taking into account long- term distributing implications.

“We thank former Treasury Secretary and current Presidential Secretary Dr. P.B. Jayasundara for initiating the takeover of 51% shares of Shell Gas, who opted to move out of Sri Lanka in 2011. Dr. Jayasundara obtained these shares by taking US$ 61 million from Sri Lanka Insurance and Litro in turn paid back this amount in four years justifying this acquisition.

“To date Litro has paid a dividend of Rs. 13.5 billion and also Rs. 34 billion in tax to the government and is now about to go bankrupt and has no funds to even place the next purchasing order.

“It must be noted that 35 per cent of the customers in Sri Lanka use LPG as cooking fuel. Another 52 per cent of customers use dual fuel, one of which is LPG. For these customers and the industrial segment who rely heavily on LPG, the way forward is uncertain.”



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PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

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P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

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Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

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The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

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NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

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The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.

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