Sri Lanka petro firms should be regulated by PUCSL, not committee under minister: MPs

Sri Lanka’s petroleum sector which is on track to be liberalised following a change to the sector law should be regulated by the Public Utilities Commission of Sri Lanka (PUCSL) and not a committee under the minister, legislators said.

“There will be no independent regulation if the sector is overseen by a committee under the Minister,” opposition legislator Kabir Hashim told parliament during a debate on the new legislation, which was passed.

The PUCSL which has some shadow regulatory power over petroleum, however, had no powers to issue licenses for petroleum players.

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