Sri Lanka’s national LPGas provider, Litro Gas Lanka Ltd., recently made an impressive contribution of Rs. 1.5 billion (1,500mn) to the Sri Lankan government treasury as dividends through its primary shareholder, Sri Lanka Insurance Corporation.
As one of the few profitable SOEs, Litro’s success is a testament to its strategic management, efficiency, and dedication to serving the public’s needs. The LPG provider’s prudent financial practices have allowed it to contribute significantly to the government treasury, providing a much-needed boost to the government’s efforts to fund public financial needs.
Litro Gas Lanka’s Chairman, Muditha Peiris, expressed his delight in being able to strengthen the government at a critical hour through the substantial contribution: “As a public-owned enterprise, we constantly strive to prioritize public welfare. As such, especially during trying times such as the Covid-19 lockdown, we ensured an uninterrupted supply to both homes & businesses. We have adopted a pricing mechanism whereby we are able to give customers the benefit of LPG price reductions in the global market. When the reverse happens, we subsidize the cost without burdening the customer fully.”
Beyond its financial contributions, Litro Gas Lanka is committed to ensuring price stability in the LPG market, fostering greater penetration of this clean and efficient energy source among local households. Stable pricing encourages consumers to adopt LPG for their cooking and heating needs, which, in turn, promotes environmental sustainability and a reduction in the country’s reliance on traditional fuels.
Over the years, Litro Gas Lanka has built a reputation for trust, reliability, and quality in the energy sector. The company’s extensive distribution network and customer-focused approach have made it the preferred choice for LPG solutions in Sri Lanka. Litro’s commitment to innovation and continuous improvement ensures that it remains at the forefront of the industry, meeting the evolving energy needs of the nation.