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Cash-starved Sri Lanka to end fuel duopoly to ease shortages

Cash-starved Sri Lanka to end fuel duopoly to ease shortages

Sri Lanka will allow companies from oil-producing countries to import and sell fuel, the power and energy minister said on Tuesday, ending a duopoly as it tries to overcome a shortage of petrol and diesel that is exacerbating an economic crisis. The Cabinet decision came as the minister, Kanchana Wijesekera, headed to Qatar and a … Read more

Sri Lanka hikes fuel prices as filling stations go dry

Sri Lanka hikes fuel prices as filling stations go dry

Crisis-hit Sri Lanka has hiked petrol prices by LKR 50 and diesel by LKR 60 respectively, the third price revision in over two months, as the country continues to reel under the worst economic crisis in decades due to a crippling shortage of foreign exchange reserves. State-run fuel retailer Ceylon Petroleum Corporation (CPC) has … Read more

Delay in the arrival of fuel shipments, says Sri Lankan minister

Delay in the arrival of fuel shipments, says Sri Lankan minister

State-owned refinery Ceylon Petroleum Corporation (CPC) has informed the Sri Lankan government that there will be a delay in the arrival of fuel shipments due to banking and logistical reasons, a senior minister said on Saturday, further exacerbating the agony of citizens of the island nation reeling under the worst economic crisis in decades. Sri … Read more

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Top US delegation to visit SL to help avert crisis

Photo Credit: IANS IANSLive Colombo, June 25 (IANS) In an effort to help avert the ongoing economic crisis in Sri Lanka, a top delegation from the US comprising officials from the Departments of State and Treasury will embark on a three-day visit to the island nation on Sunday. The delegation, which includes Deputy Assistant Secretary … Read more

High-level US delegation to visit economic crisis-hit Sri Lanka from Sunday

High-level US delegation to visit economic crisis-hit Sri Lanka from Sunday

A high-level US delegation to visit Sri Lanka will arrive here on Sunday to hold talks with the country’s top leadership to help it resolve the current economic crisis as the island nation, which is on the brink of bankruptcy, is struggling to pay for the import of essentials, including food and fuel. Sri Lanka … Read more

Lanka limits foreign currency possession by individuals from USD 15,000 to 10,000 to support dwindling forex reserve

FOREX-Euro edges down but set for largest monthly gain in a year

Cash-strapped Sri Lanka has reduced the limit of foreign currency possession by an individual from USD 15,000 to USD 10,000, in a desperate move to shore up its fast-depleting forex reserve required to fund the import of essentials, including food and fuel. Sri Lanka is facing a severe forex crisis which forced the island nation … Read more

Sri Lanka Truck Driver Dies After Waiting For 5 Days in Queue at Fuel Station

Sri Lanka Truck Driver Dies After Waiting For 5 Days in Queue at Fuel Station

Colombo: In a grave tragedy, a 63-year-old truck driver has died in Sri Lanka after standing for five days in a queue at a fuel filling station in the country’s Western Province, reported news agency PTI. This was the 10th death reported due to prolonged waiting for fuel procurement in the debt-ridden island nation grappling … Read more

Sri Lanka contacts Russian firm for crude oil: Minister

Use of 10 pc ethanol-blended petrol saved over Rs 41,000 crore forex: Choubey

Sri Lanka has reached out to several companies suggested by Russia’s embassy in Colombo to buy crude oil, Energy Minister Kanchana Wijesekera said on Sunday, in an attempt by the debt-ridden island nation to get oil on credit to keep its only oil refinery running. Wijesekera told the media that the Russian ambassador in Colombo … Read more

Auto-rickshaw driver dies in petrol queue as energy crisis worsens in Sri Lanka

Auto-rickshaw driver dies in petrol queue as energy crisis worsens in Sri Lanka

A 53-year-old auto-rickshaw driver in Sri Lanka died of a heart attack on Thursday in Colombo’s suburb while waiting in a serpentine queue for fuel for the entire night near a petrol pump, becoming the latest victim, as the fuel crisis in the island nation worsened. People have left their vehicles for over two … Read more

Jaishankar to brief MEA Consultative Committee on Sri Lanka crisis

Jaishankar to brief MEA Consultative Committee on Sri Lanka crisis

By Payal Mehta External Affairs Minister S Jaishankar will brief the Parliamentary Consultative Committee on External Affairs on June 18 over the ongoing crisis in Sri Lanka. Apart from Jaishankar, India’s Foreign Secretary and other MEA officers will be present at the meeting at the ministry office at 11 am. During the meeting, the Indian … Read more