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Business News/ News / World/  Sri Lanka fuel crisis worsens; private vehicles to get limited petrol
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Sri Lanka fuel crisis worsens; private vehicles to get limited petrol

Due to Sri Lanka's worst economic crisis since achieving independence in 1948, there is a significant shortage of commodities like food, medicine, cooking gas and petrol throughout the island nation.

A motorcyclist tows another that ran out of fuel in Colombo, Sri Lanka, Saturday, June 25, 2022. (AP Photo/Eranga Jayawardena) (AP)Premium
A motorcyclist tows another that ran out of fuel in Colombo, Sri Lanka, Saturday, June 25, 2022. (AP Photo/Eranga Jayawardena) (AP)

As the country's fuel shortage worsens, Sri Lanka has decided to restrict fuel for private vehicles. Due to banking and logistical issues, Sri Lanka won't be receiving the cargoes of petrol, diesel, and crude oil that were supposed to arrive this week and the next week.

There is a severe lack of necessities like food, medication, cooking gas, and petrol throughout Sri Lanka as a result of its greatest economic crisis since gaining independence in 1948. The virtually-insolvent island nation, which experienced a severe foreign currency crisis that led to a default on foreign debt, said in April that it would postpone paying back nearly $7 billion of its around $25 billion in outstanding foreign debt till 2026. The total amount of Sri Lanka's debt.

Food security, agriculture, livelihoods, and access to healthcare have all been significantly affected by the economic crisis. Due to a lack of seeds, fertiliser, petrol and finance, food output during the most recent harvest season was 40% to 50% lower than it was the previous year.

According to Kanchana Wijesekera, the minister of power and energy, suppliers have told the government-owned Ceylon Petroleum Corporation (CPC) that they will not make the scheduled delivery due to banking and logistical issues.

"Sri Lanka will not receive shipments of petrol, diesel and crude oil, scheduled for this week and next week," Minister of Power and Energy Kanchana Wijesekera said on Saturday.

In a subsequent statement, Wijesekera stressed that - until the arrival of the subsequent shipments - priority will be given to industry, electricity generation, and public transit. As a result, a few gas stations will get restricted supplies of diesel and gasoline during the course of the following week.

The minister urged the people to avoid waiting in gas lines and added that refinery operations will be halted until the next shipment of crude oil arrives.

"We are working with all new and existing suppliers. I apologise for the delay and inconvenience," he said.

The Food and Agriculture Organization (FAO) has listed Sri Lanka as one of the few countries that will likely go hungry in 2022 as a result of the anticipated worldwide food crisis.

According to the most recent polls, 86% of households are utilising at least one coping method, such as limiting food intake, including skipping meals. 4.9 million people, or 22% of Sri Lanka's population, currently live in need of food assistance.

(With ANI inputs)

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Published: 25 Jun 2022, 10:53 PM IST
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