Indian credit line alone not sufficient to overcome fuel crisis

News

Sri Lanka is banking on a USD500 million credit line from India to pay for its fuel bills, but the facility will not be sufficient to meet the fuel import bills in the upcoming months, Energy Ministry source said.

The Treasury would have to take a decision soon on a price revision or granting relief by lifting taxes enabling the Ceylon Petroleum Corporation to import, the source said.

The CPC Chairman Sumith Wijesinghe on Sunday (17) told the media that negotiations with the Indian High Commission are underway for the credit line facility.

Minister Udaya Gammanpila earlier said that the Minister of Finance Basil Rajapaksa has been told about the current status and that uninterrupted supplies of fuel could be provided only for the next months.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 484 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 450 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 358 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 30, 2025

- 260 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 197 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.

June 6, 2025

- 190 - 0

SriLankan flight grounded in Indonesia

A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.