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Lubricating oil licences issue:
Technical Appraisal Committee appointed
Petroleum Industries Minister Susil Premajayantha has appointed a
five-member Technical Appraisal Committee to recommend the issue of new
licences for the import and distribution of lubricating oil in the
country.
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Minister
Premajayantha |
The Committee chaired by Ministry's Additional Secretary Kanthi
Wijetunge comprises Sunanda Fernando of the Sri Lanka Standards Bureau,
P B S C Nonis of the Treasury Nihal Wickramasuriya of the CEB and R A I
I Ranatunga of the Industries and Commerce Ministry as the other
members. As there is a great demand for the import of lubricating oil
the Ministry has decided to widen the lubricating oil market by issuing
new licences.
At present the CPC and 14 other companies are involved in the import
trade of lubricating oil.
A proposal to extend their licences for a further five-year period
was also approved by the Cabinet recently. At present Sri Lanka uses
45,000 kilolitre of lubricants annually.
The expenditure involved is Rs six billion.
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