Sri Lanka, March 16 -- The former Chairman of the Ceylon Petroleum Corporation (CPC), Mohamed Uvais, stated that the government should consider reducing taxes imposed on fuel in order to maintain price stability as much as possible.

Speaking at a press conference, Uvais noted that the Strait of Hormuz is currently experiencing disruptions. He warned that if Iran takes steps to close another strategic maritime route located between Yemen and the African continent, it could have a significant impact on many countries, including Sri Lanka.

The former Chairman further stated that such potential risks could be mitigated by maintaining effective communication with fuel suppliers and by managing fuel stocks and distribution systems with greate...