Tag: lbo
Margin Matter
Jan 30, 2013 (LBO) – Sri Lankan suppliers of fuel to ships could be pushed out of business if a new tax is implemented, shipping officials and tax experts have warned. The trade has begun lobbying for the withdrawal of the five percent Ports and Airports Development Levy, (PAL) which they say could force them […]
Debt Protection
Jan 28, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board may be asked to import fuel directly to protect the main petroleum distributor from mounting unpaid dues, a media report said.A temporary surcharge on electricity was imposed in February 2012 as part of measures to avert a balance of payments crisis partly triggered by […]
Sri Lanka reshuffles cabinet, new ministers appointed
Jan 28, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has re-shuffled the cabinet appointing 10 new ministers, two project ministers and six deputy ministers, the state information office said. The ministry of petroleum has gone to Anura Yapa, power to Pavithra Wanniarachchi and technology and research to former power minister Champak Ranawaka. Laxman Yapa […]
Oil Law
Jan 26, 2013 (LBO) – Sri Lanka will update its petroleum exploration law to bring the rule in line with the latest international practices, information minister Keheliya Rambukwelle said.Amendments to Sri Lanka’s Petroleum Resources Act, No.26 of 2003, have been approved by the cabinet of ministers, he said. The changes proposed by President Mahinda Rajapaksa […]
UN flays Sri Lanka Chief Justice removal
Jan 19, 2013 (LBO) – The controversial removal of Sri Lanka’s Chief Justice Shirani Bandaranayake through a process courts have ruled to be unconstitutional is a “calamitous setback” for rule of law, a United National official has said. “The removal of the Chief Justice through a flawed process which has been deemed unconstitutional by the […]
US officials to visit Sri Lanka for LLRC talks
Jan 19, 2013 (LBO) – Three US officials led by deputy assistant secretary James Moore will visit Sri Lanka from January 26 for talks which include progress on implementing recommendations of a post-war reconciliation report, the US embassy in Colombo said. He will be accompanied by Deputy Assistant Secretary of Defense Vikram Singh and Deputy […]
Sri Lanka parliament to vote on chief justice impeachment
Jan 07, 2013 (LBO) – Sri Lanka’s parliament will vote on the impeachment of chief justice Shirani Bandaranayake on January 11 after a two day debate, the state information office said, despite a court order nullifying the findings of a parliamentary committee.The parliamentary committee from which the opposition out had not accorded due process to […]
Gas Tariff
Jan 06, 2012 (LBO) – Sri Lanka’s consumer affairs office has raised the price of liquefied petroleum gas by 150 rupees per 13.5 kilogram cylinder to 2,396 rupees under a regulated pricing formula.Prices of both state-run Litro Gas and Laugfs will go up, reports said. Domestic LP Gas prices are regulated by the CAA with […]
Sri Lanka citizens group calls for changes to upcoming bill
Jan 06, 2012 (LBO) – Friday Forum, a Sri Lankan citizens group has called for changes to an upcoming bill on a new agency called Divineguma Development Department and has called upon parliament not to impose it on the Northern Province with a two thirds majority. The full statement is reproduced below Friday Forum on […]
Oil Deals
Colombo, 2012 (LBO) – Sri Lanka is buying refined products from State-run Vietnam Oil and Gas group (PetroVietnam) favourable terms and is also getting credit facilities, petroleum minister Susil Premajayantha said. Sri Lanka’s state-run petroleum refinery, which is more suited processing Iranian crude has had trouble with other types after it became more difficult to […]
Sri Lanka court summons Speaker, legislators to review impeachment
Dec 21, 2012 (LBO) – Sri Lanka’s court of appeal has summoned parliamentary Speaker and legislators who were in a committee that found the Chief Justice guilty of misconduct in controversial circumstances. Sri Lanka’s Chief Justice Shirani Bandaranayake went court asking to quash the decision of the committee saying she was denied natural justice, the […]
Petro Hikes
Dec 15, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation, has raised petrol by 10 rupees to 159 and two grades of furnace oil but kept diesel and kerosene prices unchanged petroleum minister Susil Premajayantha said. Underpriced energy funded with bank loans, which are ultimately accommodated by central bank credit (printed money) causes frequent […]