Business
Laugfs Gas still in quest to achieve ‘equilibrium price’
BY SANATH NANAYAKKARE
‘We all need to have sound judgment as we try to solve the impact of the world LPG prices on the local market at a critical time like this for the country’, Lasantha Alagiyawanna, State Minister of Cooperative Services, Marketing Development and Consumer Protection told The Island last week.
The minister said so when asked about Laugfs Gas PLC’s claims made in a letter addressed to the Consumer Affairs Authority (CAA) that the recent price increase stipulated for Laugfs domestic LP gas cylinders was not reasonable.
Laugfs has sent this letter to the CAA while already complying with the current price set by the Authority.
Accordingly, in the letter sent by Laugfs Gas PLC Group Managing Director/GCEO P. Kudabalage to the CAA, he states, “We have been informed by your letter dated 12 August 2021 that the Consumer Affairs Authority has granted approval for increasing the maximum retail price of domestic LPG cylinders by Rs. 145 for 5 kg cylinders and by Rs. 363 for 12.5 kg cylinders. Accordingly, we are informed that the new maximum retail price of a 5 kg domestic LPG cylinder will be Rs. 743 and that of a 12.5 kg domestic LPG cylinder will be Rs. 1,856.”
When we spoke to W.K.H Wegapitiya · Chairman – Laugfs Holdings, he said that a Laugfs Gas shipment was on its way to Sri Lanka and arrangements could soon be in place to distribute the commodity.
When asked if the operations of the company would be sustainable in the medium term under the new prices, he said, “Not really. We have informed the CAA about our stance on the LPG pricing formula and we look to the future with realistic expectations. There should be an addition of another Rs. 475 per cylinder for our operations to be viable.”
Laugfs chairman also raised his concerns about USD to LKR exchange rate on the market.
Minister Alagiyawanna told us that this was not a time to revisit the issue as it has been settled to a great extent. Laugfs Gas PLC has agreed to bring in 10,000 metric tons and start distributing. We are facing multiple problems on the pandemic front, economic front amid increasing world energy product prices. Common masses are burned enough and we can’t burden them any more,” he said.
Meanwhile, a Laugfs gas distributor in the Colombo District told this reporter yesterday that he received a meagre supply of Laugfs gas on Saturday which was grabbed by some consumers as soon as it arrived, leaving many others unfortunate.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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