Treasury losing Rs. 2 billion a month despite fuel hikes: Minister

Treasury incurs Rs 2000 million loss per month
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The Treasury continues to incur losses running into more than Rs 2000 million per month despite the recent hike of petrol, diesel and kerosene prices, Parliament said�today.
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Petroleum Industries Minister Susil Premjayantha said the Treasury continuously has to bear a loss of Rs. 25.38 per litre of auto diesel and Rs. 38.94 per litre of kerosene despite�the Ceylon Petroleum Corporation increasing diesel prices by three rupees and kerosene by Rs. 10. A litre of petrol too was increased by Rs. 10.
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The losses from off-setting diesel and kerosene prices alone is costing the Treasury Rs. 1024 million monthly, he said.
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The minister added that the Treasury has to bear a subsidy of Rs. 686 million to the CEB and 291 million to Kerawalapitiya on a monthly basis for supplying petroleum products
�at a lesser price.��

Source: http://www.sundaytimes.lk/index.php/latest/6202-treasury-losing-rs-2-billion-a-month-despite-fuel-hikes-minister

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