News
It’s alright for new foreign fuel retailers to undercut CPC in pricing productsBy Rathindra Kuruwita
The Sri Lankan government has decided to allow three foreign companies to sell fuel at prices lower than those of the Ceylon Petroleum Corporation (CPC) if they so desire.
Earlier, Minister of Power and Energy Kanchana Wijesekera told the media that three foreign companies would commence operations within the next two months.
The Minister told the media that agreements would be signed with the foreign companies within the next two to three weeks.
He said that the three companies were keen to commence operations in Sri Lanka and had requested the government to fast-track the registration process.
The Cabinet last week agreed to award licences to more foreign companies that intended to enter the local fuel market, Minister Wijesekera said.
China’s Sinopec, United Petroleum of Australia and RM Parks of the United States in a collaboration with Shell Plc will enter the fuel retail market in Sri Lanka.
The foreign companies will each be allocated 150 dealer-operated fuel stations that are currently operated by the state-owned Ceylon Petroleum Corporation. They will also be allowed to import, store, distribute and sell petroleum products in Sri Lanka for 20 years.
The companies will also be allowed to establish 50 new fuel filling stations each in new locations.
Currently, the only two players in Sri Lanka’s market are Ceylon Petroleum Corporation and Lanka IOC.
The Cabinet of Ministers granted their concurrence to the resolution furnished by the Minister of Youth Affairs to appoint S. Achchudan of Special Grade of Sri Lanka Administrative Service, who is currently serving as an Additional Commissioner of Elections at the Elections Commission who is
recommended by the panel of interviewers to the post of Director General of the Sports Development Department with effect form 01.01.2026.
The Cabinet of Ministers granted approval to the proposal furnished by the Minister of Environment to publish the draft bill of the National Environment (Amended) Act in the government gazette notification and subsequently to submit the same to the Parliament for its concurrence.
The Cabinet of Ministers has approved the proposal presented by the Minister of Buddhism, Religious, and Cultural Affairs to provide tax relief on imported dates received as donations or gift for Ramadan.
This year’s Ramadan fasting season is scheduled to begin on 19-02-2026 and end on 21-03-2026.
S. Achchudan appointed as Director General of the Sports Development Department.
Amendment of the National Environment Act No. 47 of 1980
Tax relief for Dates received as donations or gifts for Ramadan
Cabinet nod to establish the Sri Lanka Industrial Transformation and innovation Authority
Temporary employment of Sri Lankan labour in the State of Israel
Cabinet approves liquidation of Sahasya Investment Company
‘Dates have the highest sugar content to fight Coronavirus’
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