Rasamanickam questions fuel subsidies amid rising prices
Batticaloa District ITAK MP Shanakiyan Rasamanickam yesterday questioned whether billions of rupees allocated by the Treasury for fuel subsidies were providing sufficient relief to consumers, and called for greater transparency in the use of public funds. Speaking in Parliament, Rasamanickam questioned whether the full benefit of the Rs. 41 billion allocated to the Ceylon Petroleum […]
Batticaloa District ITAK MP Shanakiyan Rasamanickam expressed doubt over the effectiveness of fuel subsidies, which cost the Treasury billions of rupees. In a parliamentary address, he asked whether the allocated Rs. 41 billion for Ceylon Petroleum Corporation (CPC) between April and June had indeed reduced fuel prices for consumers.
Rasamanickam pointed out that the CPC had made a net profit of Rs. 29.2 billion during the same period, raising questions about the corporation's focus on profit versus affordable fuel for the public. He also disputed Deputy Minister Kaushalya Ariyarathne's claim that fuel was being sold at below import costs, pointing out that diesel was imported at Rs.
307 per litre and petrol at Rs. 322. Rasamanickam sought clarification on whether these costs matched the retail prices and the fuel pricing formula. He cited the Finance Ministry's Mid-Year Fiscal Position Report, which stated that the Treasury had Rs. 690.3 billion in reserves at the end of June. Rasamanickam requested specifics on fuel subsidies since January and advocated for focused support for farmers, fishermen, and public transport users, warning that higher diesel prices could escalate production and transport expenses.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
