Claiming that reducing fuel prices will take some time, President Anura Kumara Dissanayake said at a meeting that discussions will be held with relevant parties to consider the possibility of reducing fuel prices soon.
He told a meeting in Katukurunda that a huge tax has been imposed on fuel after the debt of the Ceylon Petrioleum Corporation (CPC) was absorbed by the Treasury.
The President said the Treasury has absorbed some USD 3 billion of CPC’s debt and a tax has been imposed on fuel to recover that loan and added that the tax cannot be removed until the loan is paid off.
He said a meeting has been called with the Finance Ministry, the CPC, Bank of Ceylon and the People’s Bank to consider the possibility of extending the period of loan payment to reduce fuel prices soon.
