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‘Fuel pricing formula will not be beneficial’

Former Minister of Petroleum Industries Chandima Weerakkody claims the recently introduced fuel pricing formula will not be beneficial for the general public.

Speaking during an event in Galle, Parliamentarian Weerakkody who was part of the government recently, depicted the government’s move to introduce a fuel pricing formula, as bankrupt.

He said the government has failed to address the real issues behind the increase.

MP Weerakkody said the massive debt issue which has crippled the Ceylon Petroleum Corporation has not been addressed and therefore claimed the fuel pricing formula will have minimal impact. He said the recently introduced fuel pricing formula has no indicators to address the CPC debt.

On a separate note, Former Minister Weerakkody said he his apprehensive of the decision to sign the Sri Lanka-Singapore Free Trade Agreement.

Parliamentarian Weerakkody said he is supportive of FTAs with international partners however said such agreements must be beneficial to the general public.

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