Friday, January 27, 2023
HomeBusinessThe economic crisis in Sri Lanka, the loan facility given from India...

The economic crisis in Sri Lanka, the loan facility given from India is also expected to end by the end of April

Sri Lanka Economic Crisis: Sri Lanka, which is facing severe foreign exchange crisis, is rapidly running out of $ 500 million loan facility from India and if it continues like this, then by the end of April, it will not have foreign currency to buy diesel. In Sri Lanka, which is facing a shortage of food products, gas, oil and other essentials and heavy power cuts, people are protesting by taking to the streets at this time. All the ministers of the Sri Lankan government have had to step down due to the outspoken public protests, and many MPs have also left President Gotabaya Rajapaksa’s side.

The next consignment of oil will arrive from India next week
According to official sources, the supply of crude oil from abroad in Sri Lanka was to start from April 1, but in view of the seriousness of the situation, the consignment of oil started arriving in the last week of March itself. The next consignment of oil from India is expected to arrive next week. Sources said that the consignment of oil from India is likely to arrive on April 15, April 18 and April 23. But after this the $ 500 million line of credit given to Sri Lanka from India will end and if India does not increase it, then Sri Lanka can face deep oil crisis. In February, India had announced a line of credit of $ 500 million to Sri Lanka for fuel purchase.

10-10 hours electricity shortage in Sri Lanka
Diesel is used extensively in Sri Lanka for public transport, as well as the consumption of diesel in thermal power generation. But due to the shortage of diesel in thermal power stations, production has come to a standstill to a large extent. Due to this, there is a power cut in Sri Lanka for 10-10 hours at present.

Download Link

The government called the protests an opposition event
Meanwhile, the Sri Lanka Medical Association has urged Rajapaksa to take immediate steps to address the shortage of essential medicines in the country. According to the organization, at present, only emergency surgery is being done in Sri Lanka due to the short supply of essential medicines and medical equipment. Describing the protests happening across the country at this time as politically motivated, the government has said that the opposition party Janata Vimukti Paraman (JVM) is organizing them.


- Advertisment -


Two Wheeler

Digit News