President to seek Cabinet approval for three-month fuel subsidy

The government is preparing to submit a proposal to the Cabinet of Ministers seeking formal approval for a targeted fuel subsidy program spanning three months. The temporary subsidy framework aims to cushion consumers and critical economic sectors against fuel price volatility.

According to government sources, the relief package has been formulated following consultations with the Ceylon Petroleum Corporation (CPC) and Treasury officials to determine the fiscal space available for temporary energy subsidies.

The initiative is anticipated to provide substantial relief to public transportation operators, low-income households, and small businesses that have been impacted by fluctuating living costs.