The government is closely monitoring international developments and fluctuations in global fuel prices before making a decision on subsidies for local fuel prices, officials said.
The move comes as the government-provided fuel subsidy is scheduled to end by the end of June.
“It is too early to take a decision regarding the fuel subsidies, in view of international developments,” officials said.
The Committee on Public Finance (CoPF) was informed this week that the government-provided fuel subsidy of Rs. 100 per litre for diesel and Rs. 20 per litre for petrol will end this month.
Responding to questions raised by CoPF Chairman Dr. Harsha de Silva, Deputy Treasury Secretary A.K. Seneviratne said that if the current trend of expenditure continues, allocations for the fuel subsidy will be exhausted by the end of this month.
He further stated that the government has not taken any decision regarding the continuation of the subsidy, but a review will be carried out at the end of this month.
