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CBSL buys $146.46 million from Treasury

The Central Bank of Sri Lanka (CBSL) bought US$ 146.46 million (Rs 22,903 million) from the Treasury yesterday (20), which helped it to retire Rs 18,442 million of its face value money printing (FVMP) holdings, thereby helping to defray inflationary pressure by keeping demand on check. This $ 146.46 million …

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CPC receives overhaul to boost efficiency

The Ceylon Petroleum Corporation’s (CPC) Sapugaskanda Oil Refinery successfully completed a 35-day overhaul and renovation programme recently, aimed to boost efficiency, reliability and productivity of the refinery.   The 50-year-old facility, which is the only oil refinery in Sri Lanka, refines imported crude oil to supply 30 percent of the …

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IMF pegs bail out on fuel price formula

The International Monetary Fund has agreed to keep funding Sri Lanka’s bailout subject to the government implementing its long-delayed fuel price formula aimed at reducing losses at the state-owned Ceylon Petroleum Corporation.   The IMF in a statement said it had reached a “staff level”  agreement on the fourth review …

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