LNP – Central Bank refuses US Dollars to CPC without rupees

Triggering further uncertainty on a possible fuel shortage in the country , the Central Bank said it could not release foreign exchange to the Ceylon Petroleum Corporation (CPC) without getting the rupee component for it.

A ship with a consignment of diesel has been berthed at the port . The CPC has been unable to get it unloaded due to lack of US dollars to pay for it.

Earlier , Energy Minister Udaya Gammanpila said a fuel shortage could not be avoided unless US dollars were released for the payment of it.

Asked about the situation , Central Bank Governor Ajith Nivard Cabraal said the banks would not release US dollars without rupees in keeping with the exchange value . He said there is a single burrower limit and it applies to the CPC.

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