The Sri Lankan Cabinet has given the go-ahead for companies from oil-producing countries to enter the Fuel Import and Retail Sales markets.
According to a tweet from the Minister of Power and Energy, Kanchana Wijesekera, these businesses would be chosen based on their capacity to import fuel and carry on business without being subject to initial forex criteria required by the Central Bank and other banks of Sri Lanka.
According to him, the Ceylon Petroleum Corporation will offer the logistics, warehousing, and distribution services in exchange for a fee from the Companies.
