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A decision has not been taken to suspend the fuel pass QR code system from April, Power and Energy Minister Kanchana Wijesekera said today. There were reports that the fuel pass QR code system will be suspended from 10th April. However, Wijesekera said the system will continue. He said that data will be analysed and […]
Sri Lanka has secured Japanese assistance to run government hospitals. The Japanese Ambassador Mizukoshi Hideaki yesterday (22) signed an Exchange of Notes, with the Secretary to the Treasury, Mahinda Siriwardana, at the Presidential Secretariat. for a humanitarian grant assistance of USD 46 million in providing diesel fuel for public hospitals, across the country, Earlier, China provided […...
The economic and financial condition of Sri Lanka is very precarious at the moment. It has been facing the worst economic crisis since its independence in 1948. The Sri Lankan economy is going through a high rate of inflation, a shortage of essential commodities including fuel and medicines
Colombo [Sri Lanka], February 2 (ANI): External Affairs Minister S Jaishankar’s visit to Sri Lanka is being seen as a harbinger of positive developments and an improved economic and financial situation for the island nation. Jaishankar during his visit to Sri Lanka reasserted India’s pursuit of the ‘Neighbourhood First’ policy and the belief in not […]
Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.The post Sri Lanka’s Central Bank insists on staying on reform path regardless of election outcome appeared first on Sri Lanka News - Latest Breaking ...
Sri Lanka is to target the export market for poultry and eggs, the President’s Media Division said today. Senior Advisor to the President on Food Security Dr Suren Batagoda said that most of the issues related to the industry could be solved by way of coming to a collective agreement among all the stakeholders and […]
By Zinara Rathnayake My mother is a good cook. My father is just slightly better. That’s how my younger sister would always describe my parents’ food. She’s right. My mother cooked delicious curries. But my father cooked the food we hold dear.My father grew up in Nabiriththawewa, a small village in Kurunegala. Unlike his two older […]
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign firms to scout for energy resources and bring in vital investments to the crisis-hit country, a top official told Reuters on Thursday.The post Sri Lanka finalises oil exploration rules, earmarks 900 offshore blocks appeared first on Sri Lanka News - Latest Breaking News in Sri L...
Why did former President Sirisena vacate the Paget Road residence, having made it part of his ‘deal’ with the UNP? A three-judge bench of the Supreme Court, comprising Justices Priyantha Jayawardena, Gamini Amarasekara, and Kumuduni Wickremasinghe, having examined the arguments put forward by both the petitioner and respondent parties, issued an interim order on March […]
Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy.The post Sri Lanka to restart trade deal talks with India, China and Thailand – official appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Significant progress has been made at present in relation to the interaction with Sri Lanka’s creditors, the Central Bank of Sri Lanka said today. The bank said that it expects a crucial deal with the International Monetary Fund (IMF) to materialize in early 2023. Announcing its monetary and fiscal policies for 2023, the Central Bank […]
Four in every 10 households in Sri Lanka experienced a reduction in their incomes from June to December 2022, and one in every two households are currently relying on negative coping mechanisms to cope with the lack of food or money to buy it, a Food and Agriculture Organisation (FOA) report said. In its response […]
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
[…]The post Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap appeared first on Colombo Telegraph.
Despite the sharp electricity tariff revision in August, it would not be enough to cover the Ceylon Electricity Board’s (CEB) operating costs, according to Fitch Ratings. The government increased the average electricity tariff by 75 percent in August 2022, amid higher feedstock costs, resulting in large losses for the CEB.The post Tariff hike not enough to cover Ceylon Electricity Board’s op...
Faithful urged to refrain from making Christmas a ‘mere occasion for external celebrations’ Catholic bishops have urged devotees to provide medicines and dry rations for the needy at a time when Sri Lankan is mired in crises.The Catholic Bishops’ Conference of Sri Lanka (CBCSL), in a statement released on Oct. 28, urged people to be […]
[…]The post Child’s Guide To Ranilnomics: Don’t Ignore The Message Delivered By IPS SOE22 appeared first on Colombo Telegraph.
Fuel price hike, forex-shortage led long fuel queues help boost LIOC's profits
By SHIHAR ANEEZ Leaving his family and relatives was the hardest decision for Suren. But he had no other option.He never wanted to go abroad for work. An accountant by profession, Suren even had the opportunity to be promoted for a higher post at the private firm he was working at in Colombo. But he was […]
Leaving his family and relatives was the hardest decision for Suren. But he had no other option.The post Sri Lankans migrate, work over time, eat less to beat inflation appeared first on EconomyNext.
Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades.The post Sri Lanka approves law to liberalize petroleum imports appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The move could allow investors to enter into petroleum products
Sri Lankans have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, Direct Relief reported. Unlike Russia’s invasion of Ukraine and the recent hurricane batterings of Puerto Rico and Florida, Sri Lanka’s crisis grew slowly and has garnered few international headlines. But Sri Lankans are suffering amid the […]
The Sapugaskanda Oil Refinery will be closed from today (October 07) due to the shortage in foreign exchange for crude oil cargo, announced Sri Lanka's Power and Energy Minister Kanchana Wijesekera.The post Sri Lanka’s Sapugaskanda oil refinery to be closed due to forex shortage appeared
Sri Lanka tourism is yet to see large foreign visitors after political crisis ended.
The minister said enough fuel stock is available with the state-run Ceylon Petroleum Corporation (CPC)
CPC trade unions oppose the move citing that the government is privatizing the state-run firm
By DR L M K Tillekeratne Chairman of the National Development Committee of the ACBC It is a well-known fact that one the problems faced by Sri Lanka today is caused mainly by shortage of electricity for domestic purposes and industries. Three decades ago, only 20 % of houses had electricity
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.