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Fuel crisis: Fuel shipment delayed till tomorrow

05 Feb 2022

  • Shipment scheduled for yesterday delayed due to USD issues
  • CBSL agrees to arrange $ 10 m required for shipment
  • Request for $ 10 m payment made last minute by supplier
By Asiri Fernando A shipment carrying 37,000 MT of diesel that was initially scheduled to arrive in the country yesterday (5) has been delayed till tomorrow (7) due to difficulties in sourcing $ 10 million for payment, The Sunday Morning learns. Sources at the Ceylon Petroleum Corporation (CPC) told The Sunday Morning that the Central Bank of Sri Lanka (CBSL) had assured that the required US Dollars would be made available tomorrow (7). The CPC therefore expects the diesel to be received by Monday (7) evening or latest by Tuesday (8), it is learnt. According to Minister of Power Udaya Gammanpila, the supplier had made a last-minute request for an advance payment of $ 10 million, even though the Letter of Credit (LC) opened for the transaction was due to mature on 21 February. Minister Gammanpila opined that the request for the $ 10 million payment had been made as there had been a delay in honouring previous LCs due to the dollar shortage.  “However, the matter will be settled on Monday. The banks were closed on Friday (4) as it was Independence Day, so making the payment was not possible,” Gammanpila explained.   The CPC maintains that it is unable to provide any fuel to the Ceylon Electricity Board (CEB) for power generation until the diesel shipment is received tomorrow. The Kelanitissa Power Plant meanwhile remains out of order due to the lack of diesel for operations. The Energy Ministry has maintained that the CPC has supplied the promised stocks of fuel to the CEB for power generation and that the Power Ministry had last week stated that the CEB would make fuel purchases from the Lanka Indian Oil Company (LIOC) to meet its requirements.      

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