products: Latest News

All news where products is mentioned

Petroleum Products (Special provisions) bill passed - newsfirst.lk
newsfirst.lk
85%
308
Petroleum Products (Special provisions) bill passed
COLOMBO (News 1st) – The Petroleum Product (Special Provisions) Bill was passed in Parliament on Tuesday (18) with amendments.Accordingly, 77 votes were received in favor of the bill and only 17 votes were received against.The vote was held after MP Vijitha Herath of National People's Power requested for one.The Petroleum Product (Special Provisions) Bill was published via gazette on the 12th of August 2022, to amend certain sections of The Petroleum Products (Special Provisions) Act No.33 of 2002.The bill was prepared after the Cabinet of Minister granted its approval to issue licenses to selected specific sectors of the economy to import and use the fuel they require individually.The bill was included into the parliament agenda on the 31st of August 2022, and it proposed several key amendments to the act.It proposes to award the cabinet appointed Energy Supply Committee with the powers relating to the petroleum.The Committee shall consist of the Secretary to the Ministry of the Minister assigned the subject of Petroleum, Secretary to the Treasury or his nominee not below the rank of Director-General of the Treasury; Chairman or Managing-Director of the Ceylon Petroleum Corporation, and two members appointed from among persons who have achieved eminence in the field of petroleum industry or law.However, following an examination of petitions filed challenging the bill, the Supreme Court determined that a special majority was necessary to pass the provisions on considering the decision made earlier, as decision taken by the new committee, and to enact the decisions taken by the Energy Supply Committee before the bill was passed.The Supreme Court also determined that several other articles required a referendum.
DMCA