November 23, 2017 [Economy Next] - Sri Lanka will test fuel before it is imported and build more storage tanks to expand capacity and prevent shortages triggered by unexpected supply disruptions and hikes in demand, the Ministry of Petroleum Resources Development said.
Petroleum Resources Development Minister Arjuna Ranatunga also warned that the government would take over retail outlets that created an artificial shortage by refusing to sell fuel despite having stocks
“We are proceeding with new proposals regarding to importing and distributing fuel in the country,” he told news conference.
“We have introduced a system to check the sample when they are loading the stock. We don’t need to wait to check the quality of the fuel until the stock arrives. We will be able to follow alternative procedures if fuel is not in good quality.
“We are presenting a cabinet paper in upcoming weeks to construct more oil tanks,” Ranatunga said.
He said that the emergency raids unit in the Ceylon Petroleum Corporation, the state-owned refiner, had identified the sheds which are not issuing fuels though they have sufficient stocks.
“We will take action to acquire those sheds,” he said. “There’s a mafia in the fuel business.”
Ranatunga said there were enough stocks of petrol, Diesel, and Jet A-1 with more tankers expected in the next two weeks. “People should not panic. We do not have a shortage.”
Even though demand for petrol is 2,500 MT a day, the CPC is issuing between 3500-4000 MT a day, Ranatunga said.
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