The shortage of gas in the market has been created due to an issue of opening Letters of Credit required to import gas, Laugfs Gas Chairman K. V. Wegapitiya said. The main reason for this is the unnatural increase in gas prices in the world market over the past year and a half. “However, Minister Bandula Gunawardena said that he expects to reach an agreement with the Ministry of Finance within the next week regarding the problem faced by Laugfs Gas. “Gas and oil prices have risen in the world market. Therefore, the Ministry of Finance and the State Gas Company will take steps next week to remedy the situation.

Source: The Nation August 08, 2021 05:37 UTC