Colombo: The Sri Lankan government on Monday announced that only essential services will operate from midnight till July 10 and all other operations will be temporarily suspended as the beleaguered country faces a severe fuel shortage.
This move comes a few days after Prime Minister Ranili Wickremesinghe It said last Wednesday that the island nation’s debt-ridden economy had “collapsed” after months of food, fuel and electricity shortages, and could not even buy imported oil.
Sri LankaThe minister’s cabinet decided that only essential services would operate from Monday midnight till July 10.
Cabinet spokesperson Bandula said, “From midnight today till July 10, fuel will be released only to health, defence, power and export sectors.” meritorious told reporters.
state-run Ceylon Petroleum Corporation (CPC) will release diesel and petrol only for essential services from midnight.
These services include ports, airports, health, food delivery and agriculture, the report quoted Transport Minister Gunawardene as saying.
“All other sectors should prepare for a work-from-home programme,” he urged the public to support the government’s move to limit fuel consumption.
The minister said only essential services would be allowed to function till July 10 and all other works would be temporarily suspended.
While the government said that talks were on for a new credit line with India, talks are also underway to buy discounted Russian oil.
The government said a ministerial delegation would visit Russia for talks.
Sri Lanka is facing the worst economic crisis since independence in 1948, which has prompted severe shortages of essential commodities such as food, medicine, cooking gas and fuel in the island nation.
Wickremesinghe told Parliament As of Wednesday, CPC has a debt of $700 million. “As a result, no country or organization in the world is ready to provide fuel to us. They are also shying away from providing fuel for cash,” he said.
The nearly bankrupt country, coupled with an acute foreign exchange crisis that resulted in foreign debt defaults, announced in April that it would raise foreign debt of about USD 7 billion for the year out of about USD 25 billion due by 2026. suspending repayment. The total external debt is US$51 billion.
The foreign exchange crisis has crippled imports, creating severe shortages of other essentials like food, fuel, electricity and medicines, forcing people to stand in long lines to get basic necessities.
Since January this year, Indian credit lines have provided a lifeline to Sri Lanka amid growing public discontent over the deteriorating economic situation. However, Prime Minister Wickremesinghe said that India would not be able to keep Sri Lanka afloat for very long.
This move comes a few days after Prime Minister Ranili Wickremesinghe It said last Wednesday that the island nation’s debt-ridden economy had “collapsed” after months of food, fuel and electricity shortages, and could not even buy imported oil.
Sri LankaThe minister’s cabinet decided that only essential services would operate from Monday midnight till July 10.
Cabinet spokesperson Bandula said, “From midnight today till July 10, fuel will be released only to health, defence, power and export sectors.” meritorious told reporters.
state-run Ceylon Petroleum Corporation (CPC) will release diesel and petrol only for essential services from midnight.
These services include ports, airports, health, food delivery and agriculture, the report quoted Transport Minister Gunawardene as saying.
“All other sectors should prepare for a work-from-home programme,” he urged the public to support the government’s move to limit fuel consumption.
The minister said only essential services would be allowed to function till July 10 and all other works would be temporarily suspended.
While the government said that talks were on for a new credit line with India, talks are also underway to buy discounted Russian oil.
The government said a ministerial delegation would visit Russia for talks.
Sri Lanka is facing the worst economic crisis since independence in 1948, which has prompted severe shortages of essential commodities such as food, medicine, cooking gas and fuel in the island nation.
Wickremesinghe told Parliament As of Wednesday, CPC has a debt of $700 million. “As a result, no country or organization in the world is ready to provide fuel to us. They are also shying away from providing fuel for cash,” he said.
The nearly bankrupt country, coupled with an acute foreign exchange crisis that resulted in foreign debt defaults, announced in April that it would raise foreign debt of about USD 7 billion for the year out of about USD 25 billion due by 2026. suspending repayment. The total external debt is US$51 billion.
The foreign exchange crisis has crippled imports, creating severe shortages of other essentials like food, fuel, electricity and medicines, forcing people to stand in long lines to get basic necessities.
Since January this year, Indian credit lines have provided a lifeline to Sri Lanka amid growing public discontent over the deteriorating economic situation. However, Prime Minister Wickremesinghe said that India would not be able to keep Sri Lanka afloat for very long.