Shipping companies reluctant to ship oil due to payment issues!
The Ministry of Power and Energy has informed the government through a report that seven fuel suppliers have to be paid a sum of $70 million as outstanding payments.
Minister Kanchana Wijesekera has also informed the cabinet that certain suppliers have canceled their fuel supply contracts due to the inability to pay these outstanding debts.
Meanwhile, it has also been noted that shipping companies are reluctant to transport fuel to Sri Lanka because their ships have to be anchored at sea for long periods due to delays in payment.
Furthermore, the minister pointed out that in view of this situation, they are compelled to purchase fuel from new suppliers.