The Hon. Kumara Jayakody — Minister of Energy
The Minister of Energy provided monthly figures for petroleum-related tax income and profits from September 2023 to September 2024, reporting total tax income of Rs. 284,431.80 million and profit of Rs. 52,312.23 million. He said investigations into alleged frauds in fuel sales during the period are ongoing and that no definitive conclusion can be given until they are completed. In response to supplementary questions, he stated that the fuel premium component had fallen sharply through tendering, explained the Rs. 50 per litre surcharge linked to Treasury-assumed debt, and said its removal could be considered after the debt is settled. He also justified the July 1 price revision by reference to international prices at cargo discharge and noted diesel was still being sold at a loss despite a partial price increase.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Speaker, the answer is as follows.
¶ 02 (a) (i) Tax income — Rs. 284,431.80 million.
¶ 03 By month: - 2023: Sep 21–30: Rs. 8,578.00 mn; Oct: Rs. 26,984.00 mn; Nov: Rs. 14,870.00 mn; Dec: Rs. 24,574.46 mn - 2024: Jan: Rs. 22,753.00 mn; Feb: Rs. 22,848.00 mn; Mar: Rs. 30,254.00 mn; Apr: Rs. 27,238.20 mn; May: Rs. 26,794.80 mn; Jun: Rs. 23,737.00 mn; Jul: Rs. 26,307.00 mn; Aug: Rs. 10,574.00 mn; Sep 01–20: Rs. 18,919.34 mn
¶ 04 (ii) Profit — Rs. 52,312.23 million.
¶ 05 By month: - 2023: Sep 21–30: Rs. 3,508.36 mn; Oct: Rs. 7,481.14 mn; Nov: Rs. 5,771.42 mn; Dec: Rs. 7,886.65 mn - 2024: Jan: (Rs. 6,495.08 mn); Feb: Rs. 1,028.12 mn; Mar: Rs. 9,588.07 mn; Apr: Rs. 9,518.39 mn; May: Rs. 3,811.21 mn; Jun: Rs. 3,255.58 mn; Jul: Rs. 3,294.15 mn; Aug: Rs. 3,442.51 mn; Sep 01–20: Rs. 221.71 mn
¶ 06 (iii) Investigations are ongoing regarding alleged frauds in fuel sales during the period. A determination on whether frauds occurred will be made upon conclusion of investigations. Therefore, a definitive statement cannot be made at this time.
¶ 07 (iv) Not applicable. (v) Not applicable. (vi) Not applicable. (b) Not applicable.
¶ 08 Regarding supplementary questions: - The premium component formerly at USD 35–37 per metric tonne has been reduced to around USD 5, often close to USD 3, depending on tender outcomes. - Tax elements include standard VAT and other statutory levies, plus an additional Rs. 50 per litre introduced to service Treasury-assumed debt of Rs. 884 billion. A substantial portion has been paid down; once fully settled, removal of this surcharge can be considered.
¶ 09 On the July 1 price revision: prices are based on the international price prevailing on the day the cargo is discharged. A cargo arrived on a higher-price day in June; hence the upward adjustment. For diesel, we are currently selling at a loss of about Rs. 8 per litre; an increase of Rs. 23 was warranted, but only Rs. 15 was applied.
Provenance
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- Hansard, Tuesday, 22 July 2025 ·No. 1753443916033328 ·English daily/uncorrected Hansard
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Cite as: The Hon. Kumara Jayakody — Minister of Energy. 10th Parliament, Parliament of Sri Lanka. Hansard, 22 July 2025. No. 1753443916033328. Politick, https://staging.politick.io/lk/speeches/13557