Sri Lankan government approves two firms to import urgent petrol and diesel stocks - Opportunity Sri Lanka
Sri Lankan government approves two firms to import urgent petrol and diesel stocks

Sri Lankan government approves two firms to import urgent petrol and diesel stocks

The government of Sri Lanka has received Cabinet approval to enter into agreements with two companies to import petrol and diesel in the long term, according to Sri Lanka’s Power and Energy Minister Kanchana Wijesekara.
“These agreements are Letter of Award. We have sent them the legal documents and suppliers have also shared their details. People’s Bank will open the Letters of Credit for this purpose,” he has told the media.
The Minister has noted that he would be able to detail the next shipments of petrol and diesel to Sri Lanka once the letters of credit (LCs) were opened.
Wijesekara has also noted that another firm has been selected to supply jet fuel.
“Four suppliers have been given permission to import crude oil based on the proposals put forward, whilst two suppliers have been permitted to import petrol and diesel required for the coming week,” he has said.

OSL take:

Sri Lanka’s ongoing energy crisis has opened up a new business opportunities in several areas. Starting from supplying fuel to the country, there are opportunities in the areas of energy efficient transport modes, technical knowhow in developing such solutions as well as upgrading Sri Lanka’s digital platforms by increasing connectivity to encourage distant learning and working environments. Sri Lanka’s economic crisis has infact opened up a host of business/investment opportunities for the discerning foreign businesses/investor.

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Article Code : VBS/AT/24062022/Z_3

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