Will tokens help to resolve oil crisis ?

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oil crisis

Sri Lanka has decided to implement a token system dedicated to filling stations in order to minimize the impact of the current fuel crisis At least eleven people have their lives in the fuel ques and the turbulent environment around the petrol stations is difficult for many to handle for many.

Minister of Power and Energy Kanchana Wijesekera has said that the token system will be put into action soon but it is not clear if the token system will help without sufficient fuel to go around.

Definitely, rationing fuel with a to ken system will help to control hoarding but beyond that its effectiveness will be limited as official sources have admitted to having less than fifty percent of the required minimum supply.

As essential services are to be given the priority it is not sure how much fuel will be available to the ordinary citizen.

Meanwhile, the minister announced that foreign companies will be allowed to distribute fuel The government is planning for four new players – Currently, only CPC and Indian Oil Corp Ltd’s Sri Lanka unit are permitted to distribute fuel.

The new distributors will be asked to import oil on credit, Wijesekera said how ever terms of trading have not been made public.

The nation has to reduce monthly fuel consumption to $350 million from $650 million currently, the minister said.and if this happens the economy may further slow down.

It is becoming clear by the hour that patchwork to solve the fuel crises will not work anymore, said an analyst.

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