The CEO of Chevron Lubricants Lanka recently criticized the government’s management of the lube industry, questioning the logic of allowing more suppliers into the market and complaining that legislators have done too little to combat counterfeiters.
In the company’s annual report for 2021, published in late April, Managing Director and CEO Muhammad Najam Shamsuddin pointedly raised an eyebrow at the Petroleum Ministry’s granting last year of licenses to nine new finished lube marketing companies.
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As Shamsuddin noted, that brought the number of licensed suppliers to 22. Companies are not permitted to produce or sell lubricants in Sri Lanka unless they hold a license to do so.