A devastating national debt problem has placed Sri Lanka’s inhabitants in a virtual state of lockdown and has prevented the South Asian country from receiving new gasoline supply.
In a televised announcement, spokesperson Bandula Gunawardena stated that the island nation’s cabinet of ministers had agreed to restrict the provision of petroleum to necessary services only until July 10. He also predicted that interprovincial public transportation will likely cease.
Port, health services, food transport will be provided petrol and diesel while all other sectors are requested to stay at home and provide services online in this difficult time.
Our country is facing an unprecedented state of finance and foreign exchange crisis.
Bandula Gunawardena
Ranil Wickremesinghe, the prime minister of Sri Lanka, issued a dire warning last week, stating that the island nation is unable to buy gasoline, even with cash, as shortages of basic supplies and electricity intensify. Following its default on its dollar-denominated notes earlier this year, which caused its foreign reserves to decrease, local authorities are in discussions with the International Monetary Fund as well as bilateral creditors like India and China for new money to pay for imports.
Energy Minister Kanchana Wijesekera announced on Sunday that Sri Lanka intends to allow foreign businesses to supply fuel in an effort to address severe shortages that have halted most industrial activity.
Many roads in and around Sri Lanka’s capital, Colombo, were deserted over the past few days due to the government’s decision to close public schools and request that all civil servants work from home. This was despite the fact that thousands of vehicles were parked in long lines waiting to refuel at filling stations.
In order to secure new supplies, the administration is sending envoys to Qatar and Russia this week. They are also hoping India would approve a $500 million credit line for petroleum imports.
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