The LAUGFS Holdings Limited has incurred a heavy loss of Rs.27,000 million this month and Rs.20 million last month as the Consumer Affairs Authority (CAA) rejected the application for gas price increase of 12.5 kg gas cylinder by Rs.157. LAUGFs Holdings Managing Director Tilak de Silva told The Island that for the last 17 months,the company had been requesting the CAA to increase the price of 12.5 kg gas cylinder by Rs.157 to adjust the world market price escalations which had caused several problems in the retail price of gas….
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