Importing of crude oil and refined oil are Restricted

The Ministry of Finance has decided to restrict the import of crude oil and refined fuel from this year to prevent a decline in foreign exchange reserves.

Instead of the credit limit of 180-270 days for fuel imports to Sri Lanka, it is expected to purchase fuel in small volumes from fuel producing countries in the Gulf region with one year credit facilities.

The cost of importing fuel for 2021 is estimated to be $ 2.5 million, assuming that the price of a barrel of crude oil will average $ 59.

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