Sri Lanka: Petroleum Minister Dismissed
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Tuesday, 02 December 2008 |
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Sri Lanka's supreme court has ordered the removal of petroleum minister
A H M Fowzie in a case in which controversial oil hedges by a state-run
petro firm were challenged in a public interest petition.
The court ruled last week that President Mahinda Rajapaksa should take
over the petroleum ministry from Fowzie. The ruling also said that the
government should consult with the petitioners before the next date and
come up with a reasonable tax formula for the retail pricing of petrol.
The court ruling was in response to public interest petitions filed by
Ravi Karunanayake, a parliamentarian of the main opposition United
National Party and a former trade minister, and also by Laugfs, a
liquid petroleum gas retailer. Critics have blamed high domestic
retail fuel prices on excessive taxes charged by the government.
PetrolWorld 011208
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