Government to review fuel price formula

The Government is to review the monthly fuel price formula, Minister of Passenger Transport Management, Power and Energy Mahinda Amaraweera said.

He said that the Government will meet and discuss the fuel price formula and decide on its future.

Amaraweera said that President Gotabaya Rajapaksa does not support the formula and so it will most likely be scrapped.

The formula was introduced by former Finance Minister Mangala Samaraweera in line with the expectations of the International Monitory Fund (IMF).