"CEYPETCO cannot face oil crisis alone"

The IOC also said that Ceypetco could not face the fuel crisis alone. Kanchana Wijesekera, Minister of Power and Energy said that steps will be taken to allow the distribution of fuel to several other companies.

Mr. Wijesekera said that there was a need to re-establish companies like the companies that have existed in our country in the history such as Shell and Caltex and that priority would be given to countries that produce fuel.

Speaking at a media briefing at the Ministry of Energy yesterday (June 19), the Minister said that Singapore had benefited as these companies had left the country due to the wrong decisions taken by the government to set up a fuel monopoly.

He emphasized that the move would allow companies around the world to distribute oil without having to use Sri Lankan currency.

The Minister said that this permission was given on one condition and that it should be certified as an institution that can import oil under a loan scheme for a period of one year.