Amidst various concerns being raised over the lack of regulation of the country’s lubricant market, the Ministry of Power and Energy awaits the decision of the committee appointed by the Cabinet of Ministers to set up a new regulator, The Daily Morning learnt.

Recently, several parties attached to the petroleum industry have raised certain issues regarding the possibility of unauthorised entrants, particularly in the lubricant sector. The former regulatory authority, the Public Utilities Commission of Sri Lanka (PUCSL), has ceased its functions in market monitoring, consumer and trade education, import inspection, and action against unauthorised operators and product adulterators. The parties have further raised concerns about the potential proliferation of unauthorised players and product adulteration in the absence of robust regulatory oversight, highlighting the risks posed to licensed players, consumers, and Government revenue.

In this context, the Secretary to the Ministry, Dr. Sulakshana Jayawardena, told The Daily Morning yesterday (8) that the PUCSL has not completely withdrawn from the regulation and monitoring process but still functions as a regulatory body together with the Ministry.

 “Currently, the Ministry and the PUCSL together regulate Sri Lanka’s lubricant market. None of these institutions have completely withdrawn from its functions, even though certain parties claim so,” he said. However, stating that the Cabinet has taken a decision to establish a new regulator for the industry, Dr. Jayawardana noted that the committee of experts appointed by the Cabinet has yet to make a final decision. “The Ministry awaits the decision of the said committee to implement a new regulatory process. Currently, there is no issue with the lubricant market regulation, and we are closely monitoring the market,” he stated.

Commissioner of the PUCSL Douglas Nanayakkara was unavailable for comment.