Laugfs Gas, which caters to more than 30 per cent of Sri Lanka’s domestic gas consumers, has decided to suspend its gas imports with immediate effect.
According to company sources, the main reason for the decision was the refusal of banks to provide credit facilities for gas imports as the country’s dollar deficit has escalated into a crisis and the government’s ignorance on their demand for price revision.
A spokesman from the Company said they are compelled to suspend gas imports until the problems are solved. The company is also preparing to inform the President and the relevant authorities on this decision today.
The company says it has been trading at a loss, importing gas throughout the past season and can no longer run it as a business.