Lanka on mission to combat fuel shortage

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The Central Bank has also recommended that the use of private vehicles must be discouraged …reports Asian Lite News

The Sri Lankan Central Bank presented the cabinet of ministers earlier this week a set of proposals to overcome the current foreign exchange and fuel shortages, local media reported.

Governor of the Central Bank, Ajith Nivard Cabraal presented the proposals at a special cabinet meeting convened to discuss solutions to the fuel shortages. The Central Bank recommends reducing the working days to four days a week and allowing employees, who are desk bound, to arrive at work at 9 a.m. and leave by 3 p.m.

The Central Bank has also recommended that the use of private vehicles must be discouraged and the government should launch a media campaign to encourage people to reduce the use of fuel, Xinhua news agency reported.

The proposals also recommend that the country’s two main state-owned banks, the People’s Bank and Bank of Ceylon, should stop issuing loans to Ceylon Petroleum Corporation, and the price of fuel should be increased.