CoPF calls for independent regulator to oversee fuel pricing and fair competition
Summarised by AI from 4 articles
The Parliamentary Committee on Public Finance (CoPF) has called for an independent regulatory mechanism to ensure transparency in fuel pricing and fair competition between the Ceylon Petroleum Corporation (CPC) and private suppliers.
At a meeting chaired by MP Dr. Harsha de Silva on 9 November 2026, the committee examined disparities in landing costs. While the CPC refines part of domestic fuel, private companies import all refined products but must follow CPC prices.
CoPF warned this creates market distortions. It urged a pricing formula reflecting import costs, taxes and distribution expenses, and called for replacing blanket fuel subsidies with targeted relief for low-income communities and public transport.
The committee also reviewed proposed import standards for vehicle tyres and changes to the Aswesuma welfare benefits programme.
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How the story developed
- සිThe committee recommended targeting fuel subsidies toward low-income groups and the public transport sector.
- EதThis storyThe Parliamentary Committee on Public Finance proposed an independent regulator to oversee fuel pricing competition.
