Press briefing of Cabinet Decision taken on 2022-08-08

Amending the Petroleum Products (Special Provisions) Act, No 33 of 2002

- Approval of the Cabinet has been granted at its meeting held on 2022‑04‑25 to amend the Petroleum Products (Special Provisions) Act No. 33 of 2002 so that more competitive parties can be granted licenses for the importation of petroleum, in order to ensure the continuous supply of petroleum products due to the acute shortage of foreign exchange existing in the country. Accordingly, the relevant Bill has been drafted by the Legal Draftsman and the clearance of the Attorney General has been received for the same. As such, the proposal made by the Minister of Power and Energy to publish the said Bill in the Government Gazette and thereafter, present the same in Parliament for approval, was approved by the Cabinet.