Wed, 04 Oct 2023

COLOMBO, May 26 (Xinhua) -- Sri Lanka has decided to increase the fuel quota for vehicles when the prices are revised next month, Power and Energy Minister Kanchana Wijesekera said on Friday.

The minister tweeted that the fuel quota currently allowed on the national fuel pass QR system will be increased next month.

He said the decision was taken at the meeting held on Thursday with the officials of the Ceylon Petroleum Corporation.

Sri Lanka introduced the fuel quota last year following difficulties in purchasing adequate quantities of fuel due to foreign reserve shortages.

Sri Lanka explored various strategies, and one of them involved inviting expression of interests from reputable petroleum companies established in producing countries to import, store, distribute and sell petroleum products in the country.

Sri Lanka's cabinet has already agreed to award licenses to three foreign companies that intend to enter the fuel retail market in the country.

The foreign companies, including China's Sinopec, will each be allocated 150 dealer-operated fuel stations currently operated by the state-owned Ceylon Petroleum Corporation.

The companies will also be allowed to establish 50 new gas stations in new locations.

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