- Last Update 2024-07-17 16:41:00
Sri Lanka seeks additional USD 500 million fuel credit line from India
Finance Ministry is seeking another additional USD 500 million credit line for fuel import from India as the previous Indian credit line would end by this month.
Finance Minister Ali Sabry told the Times Online that talks are underway with Indian authorities to secure another USD 500 million credit line for two months.
He elaborated that the Ceylon Petroleum Corporation has notified them that the Indian credit line which had been taken previously would end soon. Therefore the Minister said that he had initiated talks to obtain the credit line from the Indian oil company.
Treasury sources said that USD 500 million credit line could be also a part of the two billion worth fuel credit line which was discussed between the two governments recently.
Sources further added that another USD 300 million worth of unused credit line would be used to import Urea fertilizer ahead Maha season as well.
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