People’s Bank opened LCs amounting to US$ 42.6 million, enabling the Government to purchase a shipment of 300,000 barrels of 92 Octane petrol.
The Ministry of Power Energy said this particular shipment of petrol was being purchased from a new supplier.
Hence, the requisite LCs had been opened on 16 June and the Ministry added that the ship carrying the fuel stock would arrive at the earliest.
The final ship carrying 40,000 MT of diesel as part of the Indian Credit Line arrived in the country on 16 June and presently there are endless queues for fuel islandwide.
By Chamara Amarasuriya