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News


 

President has failed to keep promises - LAUGFS

By Aisha Edris
LAUGFS Holdings chairman W.K.H. Wegapitiya has hit out at President Mahinda Rajapaksa for failing to promote local entrepreneurs.
The statement came after the government allowed only multi-national company Shell to increase prices of their Liquefied Petroleum Gas (LPG) filled cylinders, but refused to give approval to Laugfs, a 100% locally owned company to increase their prices despite continuous request made during the past four months.
“The President came into power promising to promote local entrepreneurs but we see that the “Mahinda Chinthana” policies have not been implemented and not being adhered to,” he told The Nation.
LAUGFS has sought legal intervention to increase the price of a gas cylinder by Rs. 157.94 from the current Rs. 956 after the Consumer Affairs Authority declined the company’s request to increase the price.
The gas company says they are losing immensely due to the increase of LPG prices in the world market and the depreciation of the Sri Lankan rupee.

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