LP Gas: Minister proposes debate on price formula

LAKSHMI DE SILVA

In the past private sector companies importing LP gas had made ad hoc price increases but today the price of LP gas could be increased or decreased according to fluctuations in the world market with the approval of the Consumer Affairs Authority under the pricing formula given by the Supreme Court, Trade Consumer Affairs and Cooperatives Minister Bandula Gunawardene said at a press conference held at his ministry yesterday.

Fixing the prices of LP gas was in no way a political issue. Who ever was the Minister an increase or decrease of LP gas prices could be affected under the pricing formula given by the Supreme Court, six times a year on determined dates, he said.

However, the Government always stood by the consumer though the companies always wanted to make bigger profit margins. During the present time the company wanted a price increase of Rs. 336.7 but only an increase of Rs. 191 was allowed, the minister said.

Critics of the government were attacking the government and the Ministry relentlessly but it was the pricing formula that had protected the consumer from ad hoc price increases. However, if the public felt that the pricing formula was not beneficial to the public we are prepared to go for a public debate, Minister Gunawardena noted.