Neighboring Sri Lanka is in dire economic straits. The country’s foreign exchange reserves have plummeted, making it impossible to import fuel and essential commodities. There are long queues at petrol and diesel stations. Due to lack of fuel, the operation of three thermal power plants was completely paralyzed.
Thus the power shortage is increasing and the power outage is becoming a saga. Meanwhile, President Gotabhaya Rajapaksa yesterday convened a special cabinet meeting to discuss fuel shortages and power shortages.
Of these, it was decided not to raise fuel prices despite the shortage. In addition, the Ministry of Finance has approved a portion of the outstanding amount to be paid by the Electricity Board to the country’s Petroleum Corporation.
However, officials said that no decision had been taken on increasing the foreign exchange reserves for fuel purchases.