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[Shell wants whopping Rs. 160 price hike
Distribution delay due to LTTE air raid By Dilukshi Thomas The price of gas may increase by Rs. 160 shortly, Rimoe Saldin, finance director, Shell Gas Lanka Limited said yesterday. Since an increase in gas price must be approved by the Consumer Affairs Authority (CAA), Shell Gas has put forth an application, requesting the increase of gas price from Rs. 960 to Rs. 1120 per cylinder. ?We have put forward a request to the CAA, to allow us to raise gas prices?, said Saldin. Only two Shell Gas price increase applications have been approved by the CAA. The remaining submissions have all been turned down, including a request filed early this year, he said. There has been no increase in the price of gas since January 2006. Shell Gas has incurred a loss of 767 million dollars, since 2003, he said. ?We have lost our entire equity?, he said adding that ?this is a point of great concern for the organization?. Shell Gas has also put forth a petition to the government to review the price increase requests and hopes approval will be granted in the near future. In a statement released yesterday, Shell Gas said the problem with distribution had no relation to the rise in gas prices. ?The problem with distribution was because of the LTTE air raid on the wee hours of April 29, which led to a fire at the Kerawalapitiya terminal. However, Shell Gas has restored their equipment and had started distribution on May 7.? Shell Gas assured that there is no shortage of gas in the market.] |
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