Sri Lanka’s Litro Gas acquires 100,000MT of LP gas using World Bank funds

ECONOMYNEXT – Sri Lanka’s state-run Litro Gas Lanka Ltd has procured 100,000 metric tons of liquid petroleum (LP) gas – enough for four months – worth 90 million US dollars, 70 million of which was funded by the World Bank.

The prime minister’s office said Thursday June 30 afternoon that the remaining 20 million dollars was from Litro.

Sri Lanka, going through its worst forex crisis since Independence, has seen long queues for LP gas which is primarily used for cooking at both domestic and industrial levels. Angry consumers were seen lining up outside gas vendors for days.

“This consignment will be enough to supply the country for four months. Seventy percent of the consignment will be provided to domestic consumers. An estimated 5 million 12.5kg cylinders, 1 million 5kg cylinders and 1 million 2.5kg cylinders will be obtained from this. The remaining 30% will be provided for commercial use,” the prime minster’s office said.

An initial consignment of 33,000 tons of LP gas procured by Litro at a cost of 20 million dollars will reach Sri Lanka by the first week of July and distribution will commence immediately, the statement said. (Colombo/Jun30/2022)