The Cabinet of Ministers, at its meeting yesterday, approved the proposal presented by the Minister of Power Dallas Alahapperuma to initiate a new feasibility study aimed at increasing the capacity at the Sapugaskanda refinery from the current 40,000 barrels per day to 100,000 (bpd)
The Corporation Refinery meets only 25 % of the local demand for refined petroleum products. The remaining 75% has to be imported, making a greater impact on foreign exchange. A feasibility study was conducted in 2010 for the renovation and expansion of the refinery to increase its’ capacity up to 100,000 (bblspd). Subsequent technological changes in the field have made it impossible to proceed on the results of the feasibility study.
EMPTY BULLET CASES FOR TRADITIONAL INDUSTRIES
Cabinet has approved a proposal from Industries Minister Wimal Weerawansa for the obtaining of empty bullet/shell cases and disposed armour plates from the Sri Lanka Army, Navy and Air Force as raw materials required for traditional industries.
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Singer Sri Lanka has seen that consumer demand has remained buoyant following the lifting of lockdown. The company has beat its own forecasts and has reached figures comparable with last year for the fiirst half of the year.
CEO Singer Mahesh Wijewardene said, “The retail sector of the consumer durables was able to come back to a state of normalcy faster than other sectors. The people require these goods in their day to day living.’ Though the lockdown hampered initial demand this was regained when the country was re-opened, Wijewardene speaking to LMD TV said.
Trends like online shopping and digital learning have changed both demand and behaviour of consumers. Young children now require laptops for their education and due to the lockdown people are increasingly cooking at home. Demand for TVs has risen with consumers willing to spend more on larger models.
Singer was able to circumvent CBSL regulations and import restrictions with strong relationships with their suppliers who issued them with 180 days of trade credit.