News
Lanka IOC increases diesel and petrol prices
LIOC has increased retail selling prices for both diesel (Lanka auto diesel ) and Petrol (LP 92 ) by Rs 5 a lire each from yesterday.
However, the prices of Lanka Super Diesel and LP 95 remain unchanged.
The LIOC has said in a media statement: “The last price revision took place on 12th June 2021.
However, since then the Brent crude oil prices have increased from $72/barrel to $86/barrel in the international market. The recent unprecedented rise in international oil prices has breached the 7 year highs. As on date the international price of Gasoil 500ppm is $ 95.62/barrel and Gasoline92 is $ 99.37/barrel.
“LIOC has been left with no other option but to increase the prices of Petrol and Diesel as the quantum of losses have become unbearable. They also informed that they have increased the prices to the minimum, taking into consideration of its impact on the industry and people at large. When contacted, Managing Director LIOC, Mr Manoj Gupta informed that although losses are very high, presently the company has increased the prices to the barest minimum.
“Lanka IOC is only public limited energy company and accountable to its more than 10500 local shareholders. Such continuous losses on indefinite period shall have a very detrimental effect on the financials of the company and its ability to invest to provide value added services to its customers.
“The Selling price of Petrol and Diesel in the country remains significantly low as compared to the prices prevailing in the neighboring countries. The prices of Petrol and Diesel need to be in line with the prices prevailing in the international market.
However, even after this price increase in Diesel and Petrol, LIOC will still have to bear significant losses at prevailing international prices for which they have been requesting to Ministry of Finance and Ministry of Energy to take necessary steps to provide relief to organization.”
The Commissioner General of Excise has announced that all liquor shops and wine stores will remain closed on 21st and 22nd September in view of the Presidential Election,
The Sri Lanka Navy conducted a beach cleaning programme today [14] at Dewata in Galle and Hambantota, in parallel with the International Coastal Cleanup Day (21st September).
The beach cleaning efforts were organized by SLNS Dakshina and SLNS Kawantissa, under the supervision of Commander Southern Naval Area, Rear Admiral Chandima Silva.
A large amount of plastic, polythene and solid waste from the coastal environments.
In the year 2016, Cabinet approval was granted for the establishment of a National Trade Felicitation Committee for the empowerment of the Trade Felicitation Agreement (TFA) of the World Trade Organization (WTO) and the inter-coordination of institutions in respect of the implementation of 36 obligations included therein. Sri Lanka has committed to implement the plan for implementation of trade facilitation during the period 2017-2030 thereunder.
Even though countries in the region have fulfilled a higher percentage of the overall commitment, Sri Lanka has only fulfilled about 37.4% of
the total commitment. Taking into consideration the prevailing situation, technical assistance has been requested from the Japan International Coordination Agency with the technical expertise of the International Trade Center to provide independent recommendations enabling the implementation of priority activities on a speedy basis after completion of the assessment of the trade facilitation measures.
Accordingly, “Roadmap for trade facilitation in Sri Lanka” and “Trade Facilitation Action Plan 2025-2028” have been prepared with the participation of about 200 public and private stakeholders.
The Cabinet of Ministers has approved the proposal presented by the
President to follow the said roadmap and implement the action plan.
Trailblazing ballerina Michaela DePrince dies aged 29
Liquor shops and wine stores closed on September 21st and 22nd
Navy conducts beach cleaning programme parallel with International Coastal Cleanup Day
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