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  • Lankan PM vows to mitigate food crisis in country

    Lankan PM vows to mitigate food crisis in country

    Wickremesinghe directed the officials to prioritise the fishing community in terms of providing them with food, gas, and fuel….reports Asian Lite News

    Amidst the unprecedented economic turmoil in the country, Sri Lankan Prime Minister Ranil Wickremesinghe on Friday said that steps will be taken to mitigate the food crisis in the island nation.

    Addressing a meeting of the Committee of Food Security, Wickremesinghe said that around four to five million people will be directly impacted by the food crisis in Sri Lanka, and measures will be taken to contain it, reported the Daily Mirror newspaper.

    The MPs will take charge of food security programmes in 225 divisions, he added.

    He ordered the formation of a committee under Parliamentarian Nimal Lansa to look into the mitigation measures and demanded the strategy preparation within two weeks.

    Wickremesinghe directed the officials to prioritise the fishing community in terms of providing them with food, gas, and fuel.

    Food security for children’s homes, nursing homes, and homes for persons with disabilities was given special emphasis, including the need to formulate a long-term plan for a modern agricultural system for the creation of a competitive market.

    Since March this year, Sri Lanka, formerly an upper-middle-income country, has been in the grip of an economic crisis unparalleled since the country’s independence.

    Severe protests have sparked political unrest leading to the resignation of President Gotabaya Rajapaksa’s brother Mahinda Rajapaksa from the Prime Minister’s post and the appointment of Ranil Wickremesinghe as the country’s Prime Minister in May.

    In May, food inflation stood at 57.4 per cent, while shortages of key food items, as well as fuel for cooking, transport, and industry, remain widespread, with ongoing daily power outages.

    The economy is bracing for a sharp contraction due to the unavailability of basic inputs for production, an 80 per cent depreciation of the currency since March 2022, coupled with a lack of foreign reserves and the country’s failure to meet its international debt obligations.

    The economic crisis has particularly impacted food security, agriculture, livelihoods, and access to health services. Food production in the last harvest season was 40 – 50 per cent lower than last year, and the current agricultural season is at risk, with seeds, fertilizers, fuel and credit shortages.

    Sri Lanka is one of the few nations named by the Food and Agriculture Organization (FAO) which is expected to go without food due to the global food shortage expected this year.

    A total of 22 per cent of the Sri Lankan population or 4.9 million people live in need of food assistance at the moment, a high-level UN official said.

    Latest surveys reveal that 86 per cent of households are using at least one coping mechanism such as reducing food intake, including skipping meals. (ANI)

    ALSO READ: Jaishankar: Unanimous support on need to stand with Lanka

  • Jaishankar: Unanimous support on need to stand with Lanka

    Jaishankar: Unanimous support on need to stand with Lanka

    Members of the Parliament including from Tamil Nadu are expected to ask the government about the impact that will have on the subcontinent….reports Asian Lite News

    External Affairs Minister S Jaishankar on Saturday chaired a parliamentary consultative committee meeting on the situation in Sri Lanka and said that there was “unanimous support” on the need to stand with the neighbouring country in this hour of crisis.

    Taking to Twitter, External Affairs Minister said, “Chaired a Parliamentary Consultative Committee meeting on the situation in Sri Lanka. A good discussion held in a positive atmosphere on various issues and India’s role. Unanimous support on the need to stand with our neighbour in this difficult time.”

    The members of the Parliamentary Consultative Committee include MoS V Muraleedharan, Meenakashi Lekhi, Shiv Sena Rajya Sabha MP Priyanka Chaturvedi, DMK Rajya Sabha MP Tiruchi Siva, BJP MP from Silchar Rajdeep Roy.

    Members of the Parliament including from Tamil Nadu are expected to ask the government about the impact that will have on the subcontinent.

    Tamil Nadu government has also sought help from the Centre to help out Sri Lanka in this crisis and has also sent consignments of medicines and other humanitarian assistance to Sri Lanka

    India always comes forward to help Sri Lanka during its economic crisis. India has sent assistance worth several billion US dollars to rescue the money-strapped Sri Lankan government accompanied by shiploads of humanitarian aid, cooking gas, large quantities of fuel, and medicinal supplies.

    On June 3, High Commissioner to Colombo Gopal Baglay handed over a total of 3.3 tons of essential medical supplies to the 1990 Suwaseriya Ambulance Service.

    Baglay said that Jaishankar was apprised of the looming shortage of medical supplies faced by the Foundation during his visit to the Suwaseriya Headquarters in Colombo in March 2022.

    Earlier on May 27, Acting High Commissioner of India in Sri Lanka Vinod K Jacob handed over a consignment of over 25 tons of medical supplies to Minister of Health, Keheliya Rambukwella in Colombo.

    Taking to Twitter, the High Commission of India in Sri Lanka said that the consignment is valued at close to Rs 260 million. (ANI)

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  • Lanka cuts workweek, tells workers to grow food

    Lanka cuts workweek, tells workers to grow food

    Local experts warned of a possible shortage of rice and other essential food items from September this year because of lower production….reports Asian Lite News

    Sri Lanka’s cabinet of ministers has approved a proposal to declare Fridays as a holiday for government employees to encourage them to carry out agricultural work to increase production in the country, local media reported on Tuesday.

    The ministers endorsed two key proposals to be implemented in the public service, which included a four-day work week for employees and a five-year no-pay leave for those who were willing to migrate for foreign jobs, Xinhua reported citing a cabinet proposal.

    “With three non-working days, public sector employees will be encouraged to carry out agricultural work to increase production in the country,” a cabinet paper said. Sri Lankan Prime Minister Ranil Wickremesinghe recently said the island nation is grappling with an impending food shortage.

    Local experts warned of a possible shortage of rice and other essential food items from September this year because of lower production.

    The Sri Lankan economy has been facing a crisis owing to a serious Balance of Payments (BoP) problem.

    Its foreign exchange reserves are depleting rapidly and it is becoming increasingly difficult for the country to import essential consumer goods.

    The current Sri Lankan economic crisis is the product of the historical imbalances in the economic structure, the International Monetary Fund (IMF)’s loan-related conditionalities and the misguided policies of the past governments.

    Meanwhile, warning that the crisis in Sri Lanka will affect its fragile “social cohesion”, the UN has launched a $47.2 million appeal for humanitarian assistance.

    Hanaa Singer-Hamdy, the UN’s Resident Coordinator for Sri Lanka, on Thursday said, “The enjoyment of basic human rights to food (and) to adequate health is at stake to many and this could ultimately, knowing the history of Sri Lanka, impact the social cohesion.”

    Emerging from years of ethnic conflict that saw tens of thousands killed, Sri Lanka is now “facing its worst economic crisis since independence,” she added.

    She said that the $47.2 million was needed to immediately help the 1.7 million people most at risk of the 5.7 million most adversely affected.

    The international community acting “right now will help prevent a much larger humanitarian crisis later in the year,” the UN Coordinator added.

    The appeal is not only aimed at governments but also at corporations and the diaspora, she said.

    The amount that the UN is asking for will take care of the needs of the targeted segment only till September, the UN official added.

    Singer-Hamdy said that 95 per cent of the people affected have already reduced their food intake and a large proportion of them are “using the coping mechanisms such as selling home furniture, borrowing money”.

    The multi-dimensional crisis is impacting nutrition, health, education and children’s welfare, she added.

    By May this year food inflation had reached 57.4 per cent and there was a shortage of fuel for cooking, transport, and industry, and there are daily power outages, she said.

    The country, which had the best health system in the region, is now in danger of running out of many essential medicines and surgical supplies by the end of July, Singer-Hamdy added.

    A major food crisis is looming because only about 24 per cent of the agricultural land has “been able to be blocked due to acute shortage of basic agricultural inputs of seeds, fertilisers, etc,” she said.

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  • Lanka electricity chief quits over controversial remarks on Modi

    Lanka electricity chief quits over controversial remarks on Modi

    Ferdinando had stated that President Rajapaksa had told him that Indian Premier Modi had pressured him to award a wind power project to India’s Adani Group….reports SUSITHA FERNANDO

    The Chairman of Sri Lanka’s state-run electricity supplier, Ceylon Electricity Board (CEB), resigned on Monday after repeated controversial statements made on Indian Prime Minister Narendra Modi and Sri Lanka’s renewable energy project awarded to Adani Group.

    CEB Chairman, M.M.C. Ferdinando handed over his resignation and Energy Minister Kanchana Wijesekara, in a Twitter message, said he accepted the resignation.

    Last week, Ferdinando had stated to Parliament’s Committee on Public Enterprises (COPE) that President Gotabaya Rajapaksa had told him that Indian Premier Modi had pressured him to award a wind power project to India’s Adani Group.

    President Rajapaksa was quick to deny Fernando’s statement and said that he never gave authorisation to award a wind power project in Mannar to any person or any institution.

    Issuing a statement, the President’s Media Division said: “Sri Lanka is currently in an acute shortage of power and President desires to expedite implementation of mega power projects as early as possible. However, no undue influence will be used in awarding such projects.”

    “Project proposals for large-scale renewable energy projects is limited, but special attention will be paid to the selection of institutions for the projects, which will be carried out strictly in accordance with the transparent and accountable system by the government of Sri Lanka,” the statement added.

    However, the CEB head later retracted what he told the COPE claiming that he made the statement in a moment of exhaustion and poor emotional condition.

    The incident created both local and international uproar and opposition politicians charged him with lying to the parliament while others complained he was pressured by the President to withdraw what he said.

    Opposition leader Sajith Premadasa had complained that Ferdinando had violated parliamentary privilege by making false statements to the COPE.

    ALSO READ: China makes currency swap with Lanka worth $1.5 bn

  • India’s valiant bid to recover influence in Lanka

    India’s valiant bid to recover influence in Lanka

    New Delhi now hopes to recover some of the ground it lost to China in the country on its southern tip, a report by Ashok Nilakantan

    India is making a valiant bid to recover its influence in the crisis-laden Sri Lanka which it had seemingly lost to China some time ago, as the Chinese dream projects in the island nation to rival Dubai seem to be virtually falling through and China makes no effort to restructure its huge debt.

    New Delhi now hopes to recover some of the ground it lost to China in the country on its southern tip. Since January, it has committed about $3 billion in loans, credit lines, and currency swaps to Colombo to import essential commodities. India has also shipped food, fuel and medical supplies to the country to ease hardships caused by the massive shortages of essential commodities that have led to hours-long power cuts, long lines for fuel and runaway inflation.

    The Chinese Dream Projects Falling Through

    In the island nation’s capital, Colombo, a sprawling port city showcased as a financial hub to rival Dubai, was to have 269 hectares of land dredged from the sea. It is the latest of the huge Chinese-funded infrastructure projects in the island country that include a port and an airport in Hambantota. The projects are now under scrutiny, though, as an unprecedented economic crisis leaves Sri Lanka with virtually no foreign exchange reserves for fuel and food, or to repay foreign loans, says the Voice of America in an assessment.

    These projects were billed as economic game changers but have yielded few returns, say analysts quoting experts who have begun to blame the Rajapaksa family, which allowed China to dominate its economic landscape, for venturing into ‘White Elephant’ projects.

    “For example, the airport in Hambantota is called the emptiest airport in the world because it really is not attracting the business it should be attracting,” says Bhavani Fonseka at the Center for Policy Alternatives in Colombo, as per VOA.

    Similarly, the Hambantota port has failed to generate much revenue while a convention centre close by remains largely shuttered. “So, there are lot of questions on whether these kinds of projects have also contributed to Sri Lanka’s increasing debt,” Fonseka said.

    Mounting Debts

    About 10 per cent of Sri Lanka’s $51 billion foreign debt is owed to China. Even before spiralling into a financial crisis this year, the country was struggling to repay some of the loans to Chinese companies. New Delhi is making a valiant effort to bail out Sri Lanka out of its unprecedented economic crisis hoping to recover its influence as a leader of the SAARC in the region.

    In 2017, the government handed the Hambantota port over to a Chinese firm on a 99-year lease since it could not pay off the $1.4 billion debt. The deal had sparked concerns in neighboring India that Beijing had secured a strategic berth in the Indian Ocean.

    China’s influence in Sri Lanka had grown exponentially in the last 15 years as President Gotabaya Rajapaksa and his brother Mahinda, who stepped down as Prime Minster last month, became a dominant force in Sri Lankan politics. Many of the projects such as the Hambantota port and airport were sanctioned in their hometown. While critics have slammed them as ‘white elephant’ projects, the two are to blame for sanctioning them, says VOA.

    The economic crisis has now triggered a massive backlash against the Rajapaksas. “The Rajapaksas are seen as very much tilting towards China,” Fonseka said. “But I think now there is going to be a more balanced foreign policy and efforts to get assistance from more different and diverse actors.”

    The government has appointed two separate ministries to study the crisis and come out with measures to resolve it.

    New Delhi to the Rescue Act

    That is good news for India, for whom Chinese presence close to its shores had become a strategic headache, says VOA adding that for the rice-sowing season in Sri Lanka, it plans to send fertiliszer to help farmers, who suffered massive crop losses last year as the government ordered an abrupt switch to organic farming. The ban on chemical fertilisers has since been lifted.

    “The economic crisis was seen as an opportunity to demonstrate New Delhi’s commitment as a net security provider in an economic sense and to show that India as a regional power could support Sri Lanka in a time of crisis,” according to Harsh Pant, head of Strategic Studies Programme at the Observer Research Foundation in New Delhi.

    “That has helped underscore India’s credentials as a responsible regional power,” he said.

    India is backing Sri Lanka’s bid to get a IMF bailout package and has asked Japan to assist the country at a recent summit of the Quad — the group including India, Japan, the US, and Australia, that aims to contain China’s growing power in the Indo-Pacific region.

    As New Delhi emerges as one of Sri Lanka’s largest providers of aid, its image as a “dependable ally” is being reinforced, according to Fonseka.

    “The fact that India has come through in terms of addressing urgent humanitarian needs is very welcome by many Sri Lankans and many are realising that India is a true friend,” she said.

    China has praised India for helping Colombo and said that it is willing to work with India and others to help Sri Lanka and other countries facing difficulties, says VOA.

    The comment from its Foreign Ministry came after President Rajapaksa in an interview with Bloomberg this week said that South Asian countries in financial trouble are not getting the same attention from Beijing as before and that China appears to be shifting its strategic focus toward Southeast Asia and Africa.

    Rajapaksa said that Sri Lanka could not tap a $1.5 billion credit line from Beijing and has yet to hear back on its request for a $1 billion loan to buy essential goods.

    Chinese Foreign Ministry spokesman, Zhao Lijian, however told a press briefing on Wednesday that “we have been doing our utmost to provide assistance for the socio-economic development of that country” and that the “priority for China’s diplomacy lies in China’s neighbouring countries, including South Asian countries”.

    Serious concerns are however being voiced in Colombo on whether Beijing will actually help restructure its loan in the face of the island nations negotiations with the IMF for a bailout.

    Economic analysts blamed Sri Lanka’s economic crisis as arising from mismanagement, pandemic tourism declines, and populist tax breaks, Chinese projects’ role in draining public finances while doing little to boost its economy which is getting traction in other South Asian nations.

    Sri Lanka is desperate to modernize its creaky infrastructure, even as many small Asian countries, such as Nepal, have signed on to China’s Belt and Road initiative despite criticism from countries such as India and the US, who call it “debt trap diplomacy”. But analysts say unless these small countries find other financing options, China will continue to establish partnerships with them.

    Pant put it succinctly: “It is also important for other powers such as Western countries or Japan to offer credible alternatives to these countries, because the debate on the viability of Chinese-funded projects may happen, but if they don’t see any alternative, they will go back to China.”

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  • China makes currency swap with Lanka worth $1.5 bn

    China makes currency swap with Lanka worth $1.5 bn

    As per conditions put forward by China, to which Sri Lanka had agreed, the latter cannot use the funds, but rather only add numbers to its foreign reserves…reports Asian Lite News

    Sri Lanka is reeling under a severe economic crisis and one of the reasons for it was the “deceitful” Chinese currency swap with Sri Lanka worth USD 1.5 billion.

    Sri Lanka’s Prime Minister Ranil Wickremesinghe on Tuesday said that the swap provided by China in December 2021 was entered into by officials of the then-Government to deceive the public, reported The Morning.

    “Sri Lanka is required to have enough foreign reserves to cover three months of imports to utilise the swap,” said Wickremesinghe in the parliament, adding that, by the time the swap was provided by the People’s Bank of China (PBoC) in December 2021, Sri Lanka didn’t have foreign currency to cover three months of imports.

    The amount under the swap agreement (USD 1.5 billion) was included in the CBSL’s official foreign reserves in December 2021, raising reserves to USD 3.1 billion by the end of 2021 and Sri Lanka should at least have USD 4.5 billion in foreign reserves to cover three months of imports.

    Putting the blame on Sri Lankan officials, he said, “But even in such circumstances, our officials took a loan to deceive the country.”

    Moreover, as per conditions put forward by China, to which Sri Lanka had agreed, the latter cannot use the funds, but rather only add numbers to its foreign reserves, reported The Morning.

    “We have requested the Chinese Government to consider removing those conditions,” Wickremesinghe said.

    Dr Indrajith Coomaraswamy, former Governor of the Central Bank of Sri Lanka (CBSL) also highlighted the deceitful swap at an event.

    He said that China would not be willing to alter the conditions that render the three-year swap unusable in the near future, as it could then be termed a loan facility, and thus Sri Lanka would come under pressure from the International Monetary Fund (IMF) and others to include it in the stock of debt to be restructured.

    Therefore, he said that it would make China hesitate in terms of removing that condition to enable Sri Lanka to use that money, as it would clearly be a disadvantage for China, reported The Morning.

    He added that it would be a challenge to convert the swap of the Chinese Yuan (CNY) 10 billion into a usable form.

    CBSL and PBoC entered into a currency swap agreement for CNY 10 billion in March 2021, valid for three years, “with a view to promoting bilateral trade and direct investment for economic development”.

    However, a statement issued by CBSL after the swap agreement was signed, said that both central banks agreed to use the swap “for other purposes agreed upon by both parties”.

    This swap agreement was approved by the Cabinet at the time, on the recommendation of the CBSL’s Monetary Board. (ANI)

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  • UN launches $47.2M SOS for Sri Lanka

    UN launches $47.2M SOS for Sri Lanka

    The international community acting “right now will help prevent a much larger humanitarian crisis later in the year,” the UN Coordinator added….reports Arul Louis

    Warning that the crisis in Sri Lanka will affect its fragile “social cohesion”, the UN has launched a $47.2 million appeal for humanitarian assistance.

    Hanaa Singer-Hamdy, the UN’s Resident Coordinator for Sri Lanka, on Thursday said, “The enjoyment of basic human rights to food (and) to adequate health is at stake to many and this could ultimately, knowing the history of Sri Lanka, impact the social cohesion.”

    Emerging from years of ethnic conflict that saw tens of thousands killed, Sri Lanka is now “facing its worst economic crisis since independence,” she added.

    She said that the $47.2 million was needed to immediately help the 1.7 million people most at risk of the 5.7 million most adversely affected.

    The international community acting “right now will help prevent a much larger humanitarian crisis later in the year,” the UN Coordinator added.

    The appeal is not only aimed at governments but also at corporations and the diaspora, she said.

    The amount that the UN is asking for will take care of the needs of the targeted segment only till September, the UN official added.

    Singer-Hamdy said that 95 per cent of the people affected have already reduced their food intake and a large proportion of them are “using the coping mechanisms such as selling home furniture, borrowing money”.

    The multi-dimensional crisis is impacting nutrition, health, education and children’s welfare, she added.

    By May this year food inflation had reached 57.4 per cent and there was a shortage of fuel for cooking, transport, and industry, and there are daily power outages, she said.

    The country, which had the best health system in the region, is now in danger of running out of many essential medicines and surgical supplies by the end of July, Singer-Hamdy added.

    A major food crisis is looming because only about 24 per cent of the agricultural land has “been able to be blocked due to acute shortage of basic agricultural inputs of seeds, fertilisers, etc,” she said.

    Asked about the causes of the crises, Singer-Hamdy added that while the Ukraine conflict had a ripple effect, there were other factors like the Covid-19 pandemic, the tax cuts that cut the government revenue, the foreign exchange shortage, the currency devaluation and the ban on chemical fertilisers which cut agricultural production by 50 per cent.

    She also said that “there are systemic root causes to this situation, including those linked to governance and human rights” and “these need to be addressed in the long term”.

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  • Lankan PM discusses economic situation with IMF chief

    Lankan PM discusses economic situation with IMF chief

    The prime minister’s office said the IMF managing director pledged support to Sri Lanka during the difficult times…reports Asian Lite News

    Sri Lankan Prime Minister Ranil Wickremesinghe discussed with Managing Director of the International Monetary Fund Kristalina Georgieva over the country’s economic crisis, the prime minister’s office said in a statement Wednesday.

    The discussions, held on Tuesday, came as Sri Lanka has decided to seek IMF assistance to face the ongoing crisis and restructure its foreign debts after the government suspended all the external debt repayments on April 12, Xinhua news agency reported.

    The prime minister’s office said the IMF managing director pledged support to Sri Lanka during the difficult times.

    Sri Lanka is presently facing one of its worst economic crises as the country faces a shortage in foreign currency, leading to a shortage in essential supplies including food, medicines and fuel.

    Sri Lankan President Gotabaya Rajapaksa has said that economic assistance has been sought from friendly nations as well as the IMF to bring the economy back on track.

    Earlier, Prime Minister Wickremesinghe said that the next three weeks for Sri Lanka would be tough as the nation is facing a severe economic crisis, and urged citizens to use fuel and gas sparingly.

    Speaking at the Sir Lankan parliament, the prime minister said that his government’s main priority was economic stability and this could be achieved only by implementing intelligently thought-out projects through hard work and dedication.

    He said Sri Lanka spends 500 million US dollars per month on fuel and also requires 40 million US dollars a month to import gas.

    “The next three weeks will be a tough time for us in regards to fuel. It is time we all must use fuel and gas carefully…Unessential travel should be limited as much as possible. Therefore, I urge all citizens to refrain from thinking about hoarding fuel and gas during this period,” Xinhua quoted Wickremesinghe as saying.

    “After those difficult three weeks, we will try to provide fuel and food without further disruptions. Negotiations are underway with various parties to ensure this happens,” he added.

    He further said that Sri Lanka also needs to pay close attention to its foreign relations to rally more international support as the country was becoming marginalized in the world due to its poor foreign policies.

    Sri Lanka is in the middle of its worst-ever economic crisis due to a foreign exchange shortage which has led to a shortage of essentials such as medicines, fuel and food.

    Due to economic and political turmoil, large-scale protests have been taking place for months, leading to the ouster of former Prime Minister Mahinda Rajapaksa.

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  • Beijing praises India for helping Sri Lanka

    Beijing praises India for helping Sri Lanka

    Speaking at a press conference, Chinese Foreign Ministry Spokesperson Zhao Lijian said China ‘commends’ India for efforts to mitigate the crisis in Sri Lanka….reports Asian Lite News

    China on Wednesday praised India for helping Sri Lanka amid the unprecedented economic crisis in the island nation that has led to a shortage of fuel and other essential items.

    Speaking at a press conference, Chinese Foreign Ministry Spokesperson Zhao Lijian said China ‘commends’ India for efforts to mitigate the crisis in Sri Lanka.

    “We have taken note that the Indian government has also done a lot in this regard. We commend those efforts. China is ready to work with India and the rest of the international community to help Sri Lanka and other developing countries experiencing difficulty to pull through the hardship as early as possible,” Lijian said during a presser.

    “The Chinese government will do its utmost and make full use of the channels available to deliver help to the Sri Lankan society,” he replied to a question over a remark made by Sri Lankan President Gotabhaya Rajapaksa.

    India-ships-rice-other-essentials-to-crisis-hit-Lanka.jpg

    Notably, Rajapaksa said in an interview on June 6 that Sri Lanka couldn’t tap a USD 1.5 billion credit line from China and has yet to hear back on the request to China for a USD 1 billion loan. He also said that China seems to have shifted its strategic focus to Southeast Asia and Africa, and has less interest in South Asia.

    In response to these remarks, the Chinese spokesperson said Beijing pays close attention to and feels for the difficulties and challenges facing Sri Lanka.

    “We have all along provided support to Sri Lanka’s socioeconomic development as long as our ability permits. China has announced that it would provide emergency humanitarian assistance worth 500 million RMB for Sri Lanka,” he added.

    Sri Lanka is witnessing an unprecedented economic crisis and political crisis. Large scale protests have been taking place for months, leading to the ouster of former Prime Minister Mahinda Rajapaksa. The island nation is also facing a severe foreign currency shortage which has created problems in importing essential items.

    Last week, India handed a total of 3.3 tons of essential medical supplies to Sri Lanka. These humanitarian supplies are in continuation of the Indian government’s ongoing support to the people of the crisis-ridden island nation in forms such as financial assistance, forex support, material supply and many more.

    In line with Prime Minister Narendra Modi’s ‘Neighbourhood First’ policy, more than 25 tons of drugs and medical supplies which were donated by the Government and people of India during the last two months are valued at close to SLR 370 million.

    This is in addition to the economic assistance of around USD 3.5 billion and supply of other humanitarian supplies such as rice, milk powder, kerosene etc, according to Indian High Commission. (ANI)

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  • Lankan PM cautions citizens on fuel usage

    Lankan PM cautions citizens on fuel usage

    Sri Lanka is in the middle of its worst-ever economic crisis due to a foreign exchange shortage which has led to a shortage of essentials such as medicines, fuel and food…reports Asian Lite News

    The next three weeks for Sri Lanka would be tough as the nation is facing a severe economic crisis, said Sri Lankan Prime Minister Ranil Wickremesinghe on Tuesday while urging citizens to use fuel and gas sparingly.

    Speaking at the Sir Lankan parliament, the prime minister said that his government’s main priority was economic stability and this could be achieved only by implementing intelligently thought-out projects through hard work and dedication.

    He said Sri Lanka spends 500 million US dollars per month on fuel and also requires 40 million US dollars a month to import gas.

    “The next three weeks will be a tough time for us in regards to fuel. It is time we all must use fuel and gas carefully…Unessential travel should be limited as much as possible. Therefore, I urge all citizens to refrain from thinking about hoarding fuel and gas during this period,” Xinhua quoted Wickremesinghe as saying.

    “After those difficult three weeks, we will try to provide fuel and food without further disruptions. Negotiations are underway with various parties to ensure this happens,” he added.

    He further said that Sri Lanka also needs to pay close attention to its foreign relations to rally more international support as the country was becoming marginalized in the world due to its poor foreign policies.

    Sri Lanka is in the middle of its worst-ever economic crisis due to a foreign exchange shortage which has led to a shortage of essentials such as medicines, fuel and food.

    Due to economic and political turmoil, large-scale protests have been taking place for months, leading to the ouster of former Prime Minister Mahinda Rajapaksa. (ANI)

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