Public Finance Committee proposes targeting fuel subsidies to needy and public transport

Summarised by AI from 1 article

The Committee on Public Finance discussed directing fuel subsidies specifically to the most needy and the public transport sector, rather than offering them equally to all consumers.

Meeting on 3 November under the chairmanship of Dr. Harsha de Silva, the committee examined fuel pricing, private market competitiveness, and Supplementary Estimate No. 07 of 2026, which includes a diesel subsidy and additional Aswesuma welfare allowances.

Members also reviewed regulations gazetted on 1 October 2026 introducing new standards for vehicle tire imports to curb substandard products, ensure road safety, and protect local manufacturers.

However, the committee highlighted that a three-month grace period for tire importers was inadequate, domestic testing facilities were limited, and local manufacturers risked gaining an unfair advantage that could harm consumers.

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