CBSL Governor assures $200M a month – Gammanpila

By Thameenah Razeek | Published: 2:00 AM Sep 30 2021
News CBSL Governor assures $200M a month  – Gammanpila

By Thameenah Razeek

Despite Sri Lanka experiencing a foreign exchange deficit in recent months, Minister of Energy Udaya Gammanpila stated the Governor of the Central Bank has pledged to provide the Ministry of Energy with a total of USD 200 million per month for fuel imports to avoid a shortage.

As a result, he claimed, the Government can confidently assert that even if the country experiences a foreign exchange crisis, it will have no effect on fuel imports.

Speaking to the Media yesterday (29) at the Ministry, Gammanpila stressed that petrol supply has been secured until January next year, while the supply of diesel has been guaranteed until November of this year. “Last August, I requested that Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, grant a fixed loan facility of USD 500 million for fuel imports and he eventually approved it,” he said adding that once approved by Ministry of Finance, the facility will be open for business in December. 

He went on to say that the Ministry has eased the rules and enabled new suppliers to register because the Ceylon Petroleum Corporation has long been accused of buying crude oil from the same supplier. “During my recent foreign trip, I met with the Energy Ministers of the UAE, Azerbaijan, and Iran and urged them to visit our country for oil exploration. 

We also talked at the Gastech Summit and discussed oil exploration in Sri Lanka with oil industry titans such as ExxonMobil. As a result, we are sure that we will be able to see positive outcomes in the bidding for our projected oil exploration later this year,” he stated.  

By Thameenah Razeek | Published: 2:00 AM Sep 30 2021

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