Sri Lanka running out of fuel, forex exhausted
Kathmandu, February 22. The Energy Minister of Sri Lanka, Udaya Gammanpila on Monday has said that they have only few days of fuel left with the forex reserves running short.
He further said that they are trying to arrange 40,000 tonnes of diesel for $35 million. Even with the shipment, the fuel will be enough for six days only.
While he said that he is in talks with the finance ministry and central bank to release funds, there is no enough forex reserves to pay for the fuel imports.
State run Ceylon Petroleum Corporation has stacked up liabilities that sum up to $3.7 billion. KDR Olga, secretary of the energy ministry said that it occurred due to opening if credit with state banks to fund fuel imports, mostly that of last year.
The fuel crisis is also hitting on power supply, with five-six hours of load shedding daily.
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