Sri Lanka’s state-run Litro Gas to settle World Bank loan by December
ECONOMYNEXT – Sri Lanka’s state-run Litro Gas said it has paid back some of the 70 million dollars lent by the World Bank to resolve the island’s cooking gas issue and hopes to pay back the entire amount by the second week of December 2022.
Litro has returned 7.5 billion rupees recently out of 26 billion rupees (70 million dollars) lent by the World Bank, Litro Chairman Muditha Peiris said in a press conference on Monday October 24.
“World Bank lent 70 million US dollars to Litro to solve our LPG problem. Now we are returning that money to Treasury in rupees,” said Peiris.
In a previous payment, Litro said it had returned 6.5 billion rupees to the Treasury in September.
The company also said it will reduce gas prices in the first week of November as global market prices have come down.
Litro previously said it had secured a supply of 90,000 metric tons of cooking gas for the last quarter of the year.
The company has secured 30,000 metric tons of liquid petroleum (LP) gas per month from October to December 2022. (Colombo/Oct24/2022)
