COVID expenditure made from Fuel Price Stabilization Fund - Minister
There was no Fuel Price Stabilization Fund functional since the Cabinet of Ministers approved such a proposal in March 2020, Energy Minister Udaya Gammanpila said.
He said due to the impacts of the global pandemic the government had to depend only on the taxes on fuel as it lost other income such as foreign remittances, investments and tax incomes.
All the welfare facilities and COVID-19 related expenditures were made out of this income, he said speaking to the media in Colombo yesterday.
According to the minister, a fresh proposal on establishing a price stabilization fund has been moved to the Cabinet of Ministers this year and it will be functional in due course.
The minister denied the allegations that the government has made favourations in purchasing petroleum oil from Singapore and said the entire purchasing process was completed on a competitive bidding process. “The subject minister has no connection with the purchasing process and it is handled by a special procurement committee.Some parties with vested interests are attempting to attach my name with fuel purchasing.Therefore,I will take necessary action against them,” he added.
source http://www.dailynews.lk/2021/06/16/local/251747/covid-expenditure-made-fuel-price-stabilization-fund-minister
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