Economic Crisis in Sri Lanka – Sri Lanka will have to conduct a 10- 15 hour power cut
Anil Ranjith, President of the Electrical Engineers’ Association, said that in the future, power generation at hydropower plants will have to be cut for 10 to 15 hours a day if they are not operated without proper management during a severe fuel crisis. Mr Ranjith said that one machine at the Norochcholai power plant would lose 270 megawatts due to repairs and another significant megawatt due to the fuel crisis. He also said that in such a situation, due to the provision of electricity for more hours, if hydroelectric power is produced without proper management, the amount of power produced may decrease gradually. He further said that it is a serious problem that all the parties do not come to one table and discuss at this time when electricity supply is also a serious problem, tor to find a solution to the electricity crisis, decisions should be made in consultation with the people who have knowledge and understanding of the subject.
Economic Crisis in Sri Lanka -Foreign Airlines decides to suspend or reduce arrivals to Sri Lanka.
The focus is on reducing or suspending foreign flights to Sri Lanka. The reason for this is that Sri Lanka has instructed flights arriving in Sri Lanka to refuel their return flights. However, foreign airlines have been focusing on reducing the number of cargoes due to overfilling and the extra cost of refuelling on the way to another airport. It is also reported that due to this, the price of tickets for incoming and outgoing flights to and from Sri Lanka could increase significantly. Currently, SriLankan Airlines’ jet fuel is processed through airports in India
Economic Crisis Sri Lanka -Central Bank calls for massive bond auction
The Bank of Ceylon today called for a high value bond auction. Applications have been called for a massive Rs. 150 billion bond issue today. The announcement is as follows.
Cabinet approves sale of Cipetco to IOC and others
Energy Minister Kanchana Wijesekera stated on Twitter today morning (28) to announce that the Cabinet had approved the sale of Ceylon Petroleum Corporation’s Cipetco outlets to Indian Oil and other companies. The message he issued notes these two points. 1) Cabinet approval was given to open fuel import and retail markets for companies in oil producing countries. They are selected on the basis of their ability to import fuel and if they can operate for the first few months of operation without foreign exchange requirements from the Central Bank and other banks. 2) The Petroleum Corporation will be the service provider for supplies, wholesale and distribution, with a service charge from the companies. CEYPETCO’s existing 1190 CEYPETCO outlets and new outlets will be open to IOC and selected new companies. The refinery will operate with the Petroleum Corporation.
Russian attack on a Ukrainian shopping mall where more than 1,000 people were staying
Russian missile strikes a busy shopping centre in the town of Kremenchuk in Ukraine’s Poltava region. President Selensky estimates that 1,000 people were inside the mall at the time of the attack. The death toll has not yet been confirmed and foreign media have reported that the shopping mall is still on fire. This is not the first time the city, with a population of about 200,000, has been hit by a Russian missile. Earlier in the day, Russian missiles struck the city’s oil refinery and other infrastructure. It is one of the largest industrial cities in Ukraine. Sharing a video of the fire on Instagram, Selensky said: “The mall is on fire, rescuers are fighting the fire, and the number of victims is unimaginable. It is useless to expect humanity from Russia. “
Economic Crisis in Sri Lanka -Fuel tokens are worthless – Ministers go around the world looking for oil loans
Tokens issued to people waiting in line for fuel have been revoked. That is with the government’s decision not to release fuel to the general public until the 10th. Tokens were issued at several petrol stations yesterday stating that fuel would be delivered within two to three days. People waited in long queues to get those tokens. Meanwhile, several Sri Lankan ministers have gone abroad to obtain fuel on a pay-as-you-go basis following the complete depletion of fuel reserves. Energy Minister Kanchana Wijesekera has left for Qatar to discuss a loan from the country. Education Minister Susil Premajayantha has also left for Russia, hoping to obtain fuel from Russia on a later payment basis. However, loan deals with the international community have become more difficult as the government has announced that it will not repay the loans as Sri Lanka is unable to repay the loans.
Economic Crisis in Sri Lanka- Only essential services operate until July 10
The Cabinet has decided to activate only essential services in the country from midnight today. Only essential services such as health, airports, electricity, and essential food distribution are provides fuel. The government has also decided not to refuel any private vehicles. It has been decided to close all the schools in the suburbs till July 10 and the rest of the schools can act at the discretion of the principal. At present only the essential people are called for public service and the rest have been informed to perform their duties from home. It has been decided to suspend inter-provincial buses and provide fuel for short-distance buses through the SLTB Depot. Although the country has not been officially locked down, there are all indications that such a situation exists. Currently, the country’s fuel reserves are running low and a very limited amount of fuel is being released only for essential services.
Fuel supply to private vehicles stopped
The government has decided to suspend fuel supply to private vehicles from yesterday until the 10th of next month. Accordingly, fuel will be released only during that period for essential services. Cabinet Spokesman Bandula Gunawardena stated that no fuel will be released for private vehicles during this period. He said that fuel for essential services is issued from SLTB depots and the three Armed Forces filling stations.
Economic Crisis in Sri Lanka -The government suspended the conducting of urban schools for the week beginning from today
According to an official statement the government has released an announcement made on Saturday that due to a fuel crisis, it has decided to suspend the conducting of urban schools for the week beginning on the 27th.
Abu Dhabi National Oil Company (ADNOC) is preparing to launch operations in Sri Lanka?
Energy Minister Kanchana Wijesekera said that a cabinet paper will be presented to the Cabinet to hand over 1690 filling stations owned by the Ceylon Petroleum Corporation to qualified foreign companies today. The Minister said that this cabinet paper has proposed to provide filling stations to foreign companies on the condition of importing fuel to Sri Lanka under a loan scheme for at least six months or a year. It is rumoured that the Abu Dhabi National Oil Company (ADNOC) is preparing to launch operations in Sri Lanka. However, no official announcement has been made by Abu Dhabi or Sri Lanka. Abu Dhabi National Oil Company (ADNOC) is one of the world’s leading energy producers and The company was the primary catalyst for the growth and diversification of the Abu Dhabi economy.