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Minister indicates reduction in fuel prices in April

Published

3 years ago

2023/03/22

Power and Energy Minister Kanchana Wijesekara told Parliament yesterday that fuel prices would be reduced considerably according to the fuel price formula at the next fuel price revision, due in April.

The Minister said that the government would be able to procure fuel shipments, at lower prices, during competitive bidding, with the receipt of the IMF bailout.

There had been practical issues, and problems, in opening Letters of Credit, and obtaining credit facilities, in the recent past, as Sri Lanka could not give a guarantee to fuel suppliers, Minister Wijesekara said.

“We could not open LCs and obtain credit facilities when procuring fuel. After the IMF bailout, we will be able to procure fuel at lower prices during competitive biddings. We will be able to obtain a long-term credit facility as well. Fuel prices in the global market seem to have declined and the rupee has also gained strength against the US Dollar. Having considered all these factors, fuel prices will be reduced by a considerable margin which could be felt by the people,” he said.

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Related Topics:Kanchana Wijesekara Power and Energy Minister Kanchana Wijesekara

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Cabinet nod to accept Japanese government grant of 08 used low floorboard buses

Published

6 hours ago

2026/03/4

Priyan

The Cabinet of Ministers approved the resolution furnished by the Minister of Transport, Highways and Urban Development to accept 08 used low floorboard buses offered as a grant by the Government of Japan.

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Payment of the financial subsidy for fertilizer to farmers cultivating paddy lands for the Yala season 2026.

Published

6 hours ago

2026/03/4

Priyan

While approval has been granted at the Cabinet meeting held on 18.08.2025 to pay the financial subsidy for fertilizer to farmers cultivating paddy lands for the Maha season 2025/26, the programme is planned to be continued for the Yala season 2026 as well.

Accordingly, the Cabinet of Ministers approved the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to pay a financial subsidy of Rupees 25,000/- per hectare and for a maximum of 02 hectares per farmer for paddy cultivation and to pay Rupees 15,000/- per hectare for field crops cultivated in paddy lands[maximum of 02 hectares per farmer]

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Ministerial Committee appointed to submit recommendations on proposed program to mitigate loss of crops to wild animals

Published

7 hours ago

2026/03/4

Priyan

The rural agricultural livelihood and food security have been severely impacted due to the damage caused by wild animals such as elephants, wild boars, monkeys, toque macaque, squirrels, and peacocks roaming around human habitats and cultivated lands.

Animal-human conflicts and property destruction have mostly been reported around these areas, and serious social and economic issues have also arisen.

Therefore, the Ministry of Agriculture, Livestock, Land, and Irrigation has prepared a comprehensive program based on the opinions of all stakeholders, including the public, university community, farmers’ organizations, environmentalists, non-governmental organizations which work for environmental issues, the Department of Agriculture, the Department of Agrarian Development, and other relevant organizations.

Taking into consideration the report submitted by the Minister of Agriculture, Livestock, Land, and Irrigation, the Cabinet of Ministers has decided to appoint a ministerial committee with the participation of other relevant ministers, chaired by the Minister of Agriculture, Livestock, Land, and Irrigation, to submit appropriate recommendations on how the aforementioned program should be implemented by further reviewing the proposals included in the said program and incorporating new proposals.