Sri Lanka does not have money to buy petrol, government confirms
By Lokmat English Desk | Published: May 19, 2022 11:47 AM2022-05-19T11:47:39+5:302022-05-19T11:47:39+5:30
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The government on Wednesday said that a petrol-laden ship had been ashore for almost two months but had no foreign currency to pay. Sri Lanka, on the other hand, has asked its citizens to 'do not stand in line and wait' for this fuel.
The Sri Lankan government, meanwhile, said it had sufficient diesel reserves. According to the online portal NewsFirst.com, a ship filled with petrol has been anchored in Sri Lankan waters since March 28.
"We do not have US dollars to pay for a petrol tanker. In addition, the same ship owes another 5.3 million for the previous shipment in January 2022. The concerned shipping company has refused to release the ship till both the payments are completed.
"That's why we told people not to stand in line. No problem with diesel. But don't stand in line for petrol. We have limited stock of petrol and efforts to deliver it essential services, mainly for ambulances."
It will take three days from Friday to complete the distribution of petrol at all the pumps. "Sri Lanka needs 530 million for June 2022," the government said.
Even though the country benefits from the Indian loan facility, it needs more than 500 million to buy fuel, compared to 150 million a month two years ago. Sri Lanka needs more than 700 million for the last batch as well.
The country has received 160 million from the World Bank. Sri Lankan Prime Minister Ranil Wickremesinghe has said that due to the economic crisis in the country, fuel and gas shortages and the ongoing agitation against it, a portion of this financial aid is being used to buy fuel.
The World Bank has received 160 million. The grant is likely to be from the Asian Development Bank (ADB), said Prime Minister Ranil Wickremesinghe. Also, the money received from the World Bank cannot be used to buy fuel.
No petrol boards have been installed at almost all petrol pumps across the country. Therefore, the situation in the country may worsen in the next few hours. Citizens have lined up for several kilometers in the hope of getting petrol. At the same time, the country is facing food inflation.
