Energy Minister Udaya Gammanpila said today if the Fuel Price Stabilisation Fund is not implemented, at least the Fuel Price Formula should be implemented immediately.
He told Parliament that he had submitted a Cabinet Paper to introduce the Fuel Price Stabilisation Fund and that it has not been approved yet.
Responding to a question raised by SLPP MP Mohomad Muzammil, he said the Central Bank has proposed that the Fuel Price Formula should be implented again. "If the Fuel Price Stabilisation Fund is not implemented. We need to implement at least the Fuel Price Formula. If the fuel price is not increased with the increase of fuel prices at the world market, the loss has to be born by all the tax payers," he said.
(Daily Mirror)