Trade unions say the Indian Oil Company now has authority to determine fuel prices in Sri Lanka.
Speaking during a media briefing in Colombo today, trade unionist Ananda Palitha said the IOC obtained authority to determine electricity tariffs in Sri Lanka as a result of the Ceylon Electricity Board requesting fuel from IOC.
Palitha said these were all results of the Minister of Energy leasing the Trincomalee Oil Tank Farm to India.
He said they warned the Indian company will be granted authority to control and determine fuel prices, determine electricity tariffs that would lead to the country losing control of state-owned power plants due to the Energy Minister’s deals.
The trade unionist said the initial warnings have been proven right following last night’s fuel price hike.
Palitha said the Minister and other officials claimed they did not reach a decision to increase fuel prices when IOC increased prices on three previous occasions adding the public no longer believes statements by the Energy Minister.