Sri Lankan Prime Minister Ranil Wickremesinghe has said that he will soon present in parliament a roadmap to overcome the ongoing economic crisis that has led to a huge supply of essential commodities like food, medicine, cooking gas and fuel to the debt-ridden island nation. There has been a shortage. A day earlier, Wickremesinghe said the roadmap would be finalized after proposals and suggestions from lawmakers on June 15 to discuss the country’s worst economic crisis.
The Prime Minister met the MPs and apprised them of the current economic situation. Finance Ministry Secretary Mahinda Siriwardene led the presentation with a breakdown of the current economic crisis and the government’s short- and medium-term goals.
After the presentation, possible ways were discussed with MPs that could be used to mitigate the economic disaster colombo page The news portal reported citing the Prime Minister’s Media Division.
Sri Lanka is currently facing its worst economic crisis since independence from Britain in 1948. The economic crisis has led to a severe shortage of essential items such as food, medicine, cooking gas, fuel and toilet paper, forcing Sri Lankans to wait in lines. Hours outside shops to buy fuel and LPG.
Angered by the long wait in fuel lines, Sri Lankans have blocked roads in protest in several areas. According to the National Transport Commission, fuel shortages have paralyzed public transport services by more than 50 percent.
Addressing the Parliament recently, Wickremesinghe said that Sri Lanka will need USD 5 billion to ensure that daily life of the people is not disrupted for the next six months.
The nearly bankrupt country, coupled with an acute foreign exchange crisis that resulted in foreign debt defaults, announced in April that it would suspend foreign debt repayments of about USD 7 billion for the year, out of about USD 25 billion by 2026. doing. Sri Lanka’s total external debt is US$51 billion.
Sri Lanka awaits official confirmation India Energy Minister Kanchana Wijesekara said on Friday that on a new credit line, which will allow the cash-starved country to supply petrol and diesel for the next four months.
On Tuesday, Wickremesinghe said a new credit line provided by India will support the cash-starved island nation’s fuel procurement for the next four months from July, even as an LPG shipment of 3,500 metric tonnes to Sri Lanka. Arrived.
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