Nalinda defends fuel pricing formula despite past criticism

Says formula helps manage global price volatility, reduce CPC's financial strain from earlier irregularities Confirms July fuel prices are based on June's average prices, reflecting recent import costs Notes Govt. has passed on price reductions in past seven months whenever feasible Claims CPC still burdened by legacy debts and irregularities Assures sufficient fuel stocks to meet demand for at least two months; rejects fears of immediate shortages

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CABINET Spokesman and Minister Dr. Nalinda Jayatissa yesterday defended the Government’s continued use of the fuel print

formula introduced by the previous administration, despite earlier criticism of the methodology.

Speaking at the weekly post-Cabinet meeting media briefing, he stressed that maintaining the pricing formula remains the most practical and reasonable approach in the current economic environment.