COLOMBO: The Public Utilities Commission of Sri Lanka (PUCSL), shadow regulator of the lubricant industry is to prepare regulatory tools addressing the issues with regard to price and quality of lubricants in Sri Lanka.
The PUCSL ON Tuesday held a Public Consultation on the draft regulatory tools related to quality and price of lubricants and
More than 300 people participated in the consultation and public, industrialists, manufacturers, officials and experts expressed their views on the proposed mechanisms.
According to the PUCSL, the lubricant market comprises of lubricants and greases derived from mineral oil or synthesized from chemical compounds for automotive, industrial and marine applications.
It is regulated primarily under the Ceylon Petroleum Corporation Act No. 28 of 1961 by the Ministry of Petroleum Resources Development with the advice and assistance of the Public Utilities Commission of Sri Lanka.
Presently, the market is liberalized, but an authorization is required to import, export, blend, produce, distribute, supply or sell lubricants in the country. PUCSL proposed a mechanism to investigate and prosecute adulterate lubricants, guidelines for re-refining used lubricants and guidelines to be strictly followed by relevant agencies such as the Import & Export Control Department, Sri Lanka Customs and market participants with regard to the importation of unauthorized lubricants.
