LIOC dismisses price increase claims

The Lanka Indian Oil Company (LIOC) today (July 12) dismissed a report in a Sunday weekly that it had requested a price increase in fuel products, and added that it made no such proposal to form a committee to work out a pricing formula linked to market trends.

LIOC Managing Director K.R. Suresh Kumar this morning vehemently denied having told that weekly newspaper that he sought a price revision. “Neither did I ever propose a committee of such nature. I have not made any such demand or proposal after the recent fuel price increase effected by the Government”, he added.

He further said that he had not met Petroleum Minister A.H.M. Fowzie after the recent fuel price hike nor the Ministry Secretary, W.P. Ganegala to discuss any issue as claimed in the media. Source by: Daily mirror