Litro says they will resume gas production on the 18th.
Production and distribution of Litro Gas continued until April 13, and after which it was ceased.
As a result, gas stocks have been depleted.
However, the company said in a statement that they had taken steps to resume gas production as they are receiving the necessary dollar funding.
The announcement follows.
Litro gas production and distribution continued until April 13, when 800,000 domestic gas cylinders were released to the market in April alone. 11,000 MT of gas was delivered in April, including for factory hospitals and hotels.
Even though the gas stocks have been depleted, production will resume on April 18.
Lack of dollars for issuance of letters of credit in February and March hampered the availability of the required quantities of gas, while the lack of gas from the competing institutions resulted in increasing the demand during the festive season, creating a market shortage. Furthermore, from February, due to the rise in world market prices and the rise of the US dollar to 335 rupees, the price of a domestic gas cylinder should have gone up by 60%, but Litro incurred a loss of 2600 million rupees in March alone due to non-increase in prices.
Government’s intervention and World Bank assistance are currently underway to provide the necessary dollar funding for gas imports under IME and have so far received upto $ 10 million.
Under this, 8500 MT stocks are to be delivered to Sri Lanka in the future. Gas stocks are being received to allow production to resume and production will resume on April 18.
