LNP – Gas monopoly terminated

There will be a price reduction of a domestic gas container of 12.5 kilograms by Rs.125 or 130 in the near future with the newly established company to deal with the gas business in the country, a state minister said.

Cooperative Services, Marketing Development and Consumer Protection state minister Lasantha Alagiyawanna said yesterday a board of directors and a chairman had already been appointed by the government for the purpose.

The importation of gas, storage and distribution will be handled by this new company, a subsidiary of CEYPETCO hereafter, he added.

Minister Alagiyawanna told the media that the unsatisfactory trading of gas by the two companies that had a monopoly on the country’s domestic gas business compelled the government to switch to an alternative strategy and establish the new company.

Sri Lanka will merge liquefied petroleum procurement and distribution operations of local suppliers Laugfs and Litro Gas to ensure a steady supply of LPG and maintain the price stability of gas