Laugfs Gas Chairman WKH Wegapitiya warns of severe gas shortages across the country next week.
This situation is caused by the banks delaying the release of dollars related to letters of credit. Both companies are currently running out of gas reserves, which could be due to spending more dollars on fuel imports, according to banking sources. Wegapitiya points out that the current shortage of dollars has made it impossible for Laugfs to earn the foreign exchange earned by supplying gas to Maldives, Bangladesh as well as African countries in the region.
He pointed out that Laugfs was reluctant to receive the dollars it needed from state-owned banks for its operations, and that the dollar from other banks was currently limited, forcing it to suspend operations.
“We need about $ 15- $ 20 million a month for our operations. But this amount is not given to us by the banks. We kept telling the Minister of Finance about this. There is no solution yet. ”
Wegapitiya also pointed out that a metric ton of gas has increased by $ 135 due to the current Russian-Ukrainian war situation. In this situation, the price of gas has reached the highest level in history and the supply of gas may decrease in the future as the amount of gas available in dollar terms decreases.