Energy Minister Kumara Jayakody says there is no possibility of removing the taxes imposed on fuel until the loans obtained by the Ceylon Petroleum Corporation (CPC) are fully repaid.
He points out that removing these taxes would lead to a situation where the loans cannot be repaid.
Speaking during a televised interview, the Energy Minister said a portion of the CPC’s loans has been repaid as of now.
“I think, between 30% to 40% of the loan has been repaid. Until we complete the loan repayment, we cannot reduce the Rs. 50 fuel tax. If we do so now, we will have to look at other means to collect the amount,” he said. (Newswire)
