Sabry says Sri Lanka is seeking $3Bn.
Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, the Finance Minister Ali Sabry stated in an interview with Reuters. The Finance Minister, stating that it is indeed a ‘Herculean task’, mentioned that Sri Lanka needs $3 billion in bridge financing while readying itself for negotiations with the IMF. Sri Lanka will look to restructure international sovereign bonds and seek a moratorium on payments, and is confident of negotiating with bondholders for an upcoming $1 billion payment in July. “The entire effort is not to go for a hard default, as we understand the consequences of a hard default.” Minister Sabry stated. J.P. Morgan analysts estimated this week that Sri Lanka’s gross debt servicing would amount to $7 billion this year, with the current account deficit coming in around $3 billion. Sri Lanka will seek another $500 million credit line from India for fuel, which would suffice for about five weeks of requirements, Sabry said. The government would also seek support from the Asian Development Bank, the World Bank and bilateral partners including China, the United States, Britain and countries in the Middle East. “We know where we are, and the only thing is to fight back,” Sabry said, looking relaxed in a blue T-shirt and jeans, according to Reuters. “We have no choice.” he said. On Friday, a new central bank governor raised interest rates by an unprecedented 700 basis points in a bid to tame rocketing inflation and stabilize the economy. In a effort to fix government finances, Sabry said the country will have to raise tax rates and further increase fuel prices within the next six months. “These are very unpopular measures but these are things we need to do for the country to come out of this,” he said. “But the choice is do you do that, or do you go down the drain permanently?” Reuters further reported.
Gayanthika Aberathna sets a new Sri lanka record
Gayanthika Aberathna sets a new Sri lanka record for the 800M with a time of 2 minutes 01.44 seconds at the 100th National Athletic Championships.
Government payed for the diesel ship
The Ministry of Energy says it has paid $ 52 million for a ship carrying 37,500 metric tons of diesel belonging to Singapore-based Vitol, which had been anchored in international waters for 16 days. Accordingly, the consignment of diesel will be unloaded this afternoon (08). . The ministry said it would have to pay nearly 92 million rupees in late fees. Two other fuel tankers are currently anchored in international waters. Due to the inability to pay for those letters of credit. The Ministry of Energy stated that a ship carrying 30,000 metric tons of fuel for power plants has also arrived. The ministry said a ship carrying 35,000 metric tons of jet fuel was due to arrive on the 15th of this month. The Ministry of Energy stated that the country has sufficient stocks of petrol.
Special transport services will be operational from today to Sinhala and Tamil New Year.
Special transport services will be operational from today (08) for the convenience of people traveling to rural areas for the Sinhala and Tamil New Year. Deputy General Manager of the Sri Lanka Transport Board, A. H. Mr. Panduka Swarnahansa stated that a special bus service plan has been launched from today. Superintendent of Railways Gamini Seneviratne said that several special trains have been added for the Sinhala and Tamil New Year. Meanwhile, the Director General of the National Transport Commission Nilan Mirenda stated that a program has been launched to refuel long distance buses from the Makumbura and Bastian Mawatha bus stands in line with the special bus schedule.
300,000 metric tons of rice imported
The Ministry of Commerce says that steps will be taken to import 300,000 metric tons of rice to supply rice at lower prices during the festive season. The rice, which is being imported to Sri Lanka through the Ceylon Chamber of Commerce and Industry, will be distributed to the public at concessionary prices through Sathosa outlets. Under this 40,000 metric tons of rice will be delivered to the island this weekend. Chairman of the Ceylon Chamber of Commerce and Industry Yoga Perera stated that this rice is being imported to the island under Indian loan facilities. The Ministry of Commerce stated that Ponni Samba, Ponni Nadu and white raw rice will be imported at Rs. 130 per kilogram and other rice at Rs. 110 per kilogram.
There will be no power cuts for new year
The Ceylon Electricity Board says that there will be no power cuts on April 13 and 14. Meanwhile, weekend power cuts have also been reduced. Accordingly, the power cut will be 2 hours tomorrow (09) and the power cut will be limited to one hour the day after tomorrow (10). However, a 6 hour and 30 minute power cut is scheduled for today (8).
Todays power cut schedule
A six hour and 30 minute power cut is scheduled for today (08) as well. . The Ceylon Electricity Board stated that A, B, C, D, E, F, G, H, I, J, K, L category will be available for 4 hours from 8.00 am to 5.00 pm. The power cut will last from 5.00 pm to 7.30 pm for 2 hours and 30 minutes. Zones P, Q, S, R, T, U, V, W will experience power cuts of 4 hours from 10.00 am to 6.00 pm and 2 hours and 30 minutes from 6.00 pm to 11.00 pm. The Ceylon Electricity Board (CEB) has announced that the power supply to the Colombo Commercial Zone will be cut from 6.00 am to 9.30 am for 3 hours and 30 minutes. Meanwhile, weekend power cuts have been reduced. Accordingly, there will be a 2 hour power cut tomorrow (09) and one hour power cut the next day (10).
The economic crisis in Sri Lanka- Schoolchildren protest against President
A large number of school children in the Kandy area staged a protest demanding the immediate resignation of the President. The students, who had gathered in Kandy today as the Sacred Tooth Relic, were feeding the protesters and chanting slogans. Although the police and the Child Protection Authority have been informed not to connect children to objections, a large number of students participated in the protest. It is noteworthy that school children joined the protest after 1989.
President does not accept resignations
President Gotabhaya Rajapaksa has asked the Sri Lanka Freedom Party (SLFP) to abandon its decision to leave the government and remain with the government. He made this request during a discussion with the leaders of the Sri Lanka Freedom Party yesterday afternoon. The President has also decided not to accept the resignation of Ranjith Siyambalapitiya who has resigned from the post of Deputy Speaker. However, speaking after the meeting, the President of the Sri Lanka Freedom Party, former President Maithripala Sirisena stated that the decision to withdraw support to the government was just as effective.
The protesters intended to assassinate the President
The protesters who went to President Gotabhaya Rajapaksa’s private residence intended to assassinate the President, said Parliamentarian Prasanna Ranatunga. Commenting on the parliamentary debate, he said: “The two days were set aside today and tomorrow to discuss the situation in the country at the party leaders’ meeting and find a solution. We also need to consider whether these discussions have resulted in a solution to this problem. Today the whole country is watching this discussion on television. The whole country is waiting to see what happens today. We have no problem with the people’s right to protest. We accept that. And I have always said that protest is for the good of the country and not to anarchize the country. Today the people of the country have a problem The problem of the country is a problem of fuel, there is a problem of gas, there is a problem of electricity, what is the reason for these problems that Mr Bandula Gunawardena presented to the House today. But no one doesn’t want to hear that. Today there is a separate political issue. We need to identify this issue. It has always been a thing of the past in this country that when a leader who loves this country and loves the country people comes, there is a certain group is formed to chase them away. At that time some groups went to Gotabhaya Rajapaksa’s private house and tried to assassinate him. At that time they could not try to put forward the title ‘gota go home’. Today they are trying to oust him from that post. It should be remembered that 69 lakhs of us voted for him and gave him that mandate to rule the country. We have seen in history that Mr. JR Jayewardene 83 had similar demonstrations against him during the period when Black July was the land of murderers. I was watching the procession from Pettah Junction went against the President. However, JR Jayewardene did not resign due to that incident. The then President faced it. Also, the Leader of the Opposition’s father remembers well during the 88-89 period of terror, Hon. Chairperson, he killed more than 60,000 people. The monks burned the tires at the junction. It was from the JVP leaflets that the shop was closed If they did not obey their orders, they were killed and hanged on the light poles What was done then is now being implemented through social media”