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08 May, 2015 08:30 AM Source: Financial Times - Sri Lanka

Piramal Glass Ceylon Plc Chairman Vijay Shah reiterated calls for a reduction in the price of furnace oil during a recent visit to Sri Lanka.
“As you know, the ceramic and glass industry are highly energy-intensive processes. We have been pleading with the Government asking for a reduction in the price of furnace oil for a long period of time. I don’t think anyone is really paying any attention to this serious issue. Nothing is being done and if this situation continues, our ability to compete in the global market will be severely eroded and we will be forced to reduce our exports as a result,” Shah warned.
Furnace oil, which is derived from the distillation of petroleum, is a critical raw material in the production of glass.
When oil prices peaked at $ 110 per barrel, local industries were purchasing furnace oil at Rs. 90 per litre.

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