Sri Lanka seeks $ 1 billion additional loan from India
Sri Lanka has requested an additional $ 1 billion loan from India to import essential food items, Reuters reports. According to a Reuters report, the Indian authorities have indicated that they will comply with Sri Lanka’s request for a new loan for the import of essential commodities such as rice, wheat flour, cereals, sugar and pharmaceuticals. This will be in addition to the $ 1 billion loan already pledged by India. Finance Minister Basil Rajapakse also signed a $ 1 billion loan agreement in the Indian capital, New Delhi, this month. In addition, India provided $ 500 million and $ 400 million in exchange rates for fuel purchases to Sri Lanka earlier this year.
Economic Crisis in Sri Lanka -China says no to debt restructuring but another loan to pay off debts
China has rejected a request from Sri Lanka to repay a loan taken from China, a weekend newspaper reports. But China has proposed another loan to pay off that debt. Accordingly, the Chinese government has recently agreed to provide a $ 1 billion loan to repay the loan installments. This billion will have to be used to repay the entire Chinese debt. In addition, interest will be added to new loans.
Today’s power cut schedule
The Public Utilities Commission will announce the power cuts today (29) Accordingly, the power cut is as follows. Zones A, B, C, D, E, F, G, H, I, J, K, L – 5 hours from 08.00 am to 06.00 pm and 2 hours and 30 minutes from 6.00 pm to 11.00 pm Zones P, Q, R, S, T, U, V, W – 5 hours from 08.30 am to 05.30 pm and 2 hours and 15 minutes from 5.30 pm to 11.00 pm.
Sri Lankan government providing Rs 5000 allowance for New Year
The government has decided to provide an allowance of Rs. 5,000 to selected families for the coming New Year. The decision was taken at a cabinet meeting chaired by the President yesterday. Accordingly, Cabinet approval has been granted to pay this allowance to 31 lakhs families for a period of two months.
There will be a one more hour power cut today
Today (27) the Public Utilities Commission has given permission for another hour of power cuts in P, Q, R, S, T, U, V, W areas from 9AM to 3PM. This is due to the unexpectedly high energy demand over the weekend. The Public Utilities Commission has granted this permission following a request made by the Electricity Board. Also, areas from P to W will be cut off from 3 pm to 11 pm for two hours and from A to L areas from 8.30 am to 5.30 pm for 2 hours and 15 minutes and from 5.30 pm to 10.30 pm for 15 minutes. The Public Utilities Commission noted. Meanwhile, the supply of fuel for the Kelanitissa power plant commenced yesterday (26), according to the Ceylon Electricity Board. Accordingly, the amount of fuel supplied to the Kelanitissa power plant is 2400 metric tons.
Indian External Affairs Minister Dr S Jaishankar to visit Sri Lanka
The Ministry of External Affairs of India states that the External Affairs Minister Dr. S Jaishankar will pay an official visit to Maldives and Sri Lanka from 26-30 March 2022 at the invitations of the Foreign Affairs of Maldives, H.E. Mr. Abdulla Shahid and Minister of Foreign Affairs of Sri Lanka, Prof. G.L.Peiris. Dr. Jaishankar’s visit to Sri Lanka from 28th to 30th March follows the visits to India by Minister of Finance of Sri Lanka, Basil Rajapaksa in December 2021 and earlier this month and that of Minister of Foreign Affairs Prof. G.L.Peiris in February 2022. The bilateral meetings and interactions which Dr. Jaishankar will have in Sri Lanka will highlight the priority that the Sri Lanka occupies for India, the Indian External Affairs Ministry stated. ​While in Sri Lanka, Dr. Jaishankar will also participate in the BIMSTEC Ministerial Meeting on 29th March 2022 in Colombo.
There will be a 10 hour power cut in next weeks
The Kerawalapitiya Power Plant has stopped generating electricity. The Electricity Board stated that the power generation at the Kerawalapitiya power plant has been suspended due to a lack of fuel. The Ceylon Electricity Board (CEB) stated that the operation of several power plants in Sri Lanka has been severely affected due to fuel shortages. The current power outage is around 6 hours a day but with the stoppage of Kelawarapitiya there is no other option to fill the gap. Accordingly, they have informed that a solution should be found by cutting off the electricity and accordingly the daily cut will be extended to 10 hours. This extension is likely to take effect from next week. Due to the dry weather the hydro power plants have run out of water to generate electricity By March-April, the situation will be even worse than in other months. This has created a backdrop where it is not possible to supply power without a cut even when the total fuel capacity is used. These cuts can be limited only during the New Year season, but not until the end of next May Sources say the power will have to be cut off.
Today and tomorrow power cut schedule
The Public Utilities Commission of Sri Lanka has permitted the CEB to cut off electricity according to this schedule. Zones A, B, C, D, E, F, G, H, I, J, K, L – 8.30 am to 5.30 pm 3 hours and 20 minutes 1 hour and 40 minutes between 6 pm and 11 pm Z, P, Q, R, S, T, U, V, W zones 3 hours between 9 am and 6 pm 1 hour and 40 minutes between 6 pm and 9 pm Sunday the 27th Zones A, B, C, D, E, F, G, H, I, J, K, L. 8.30 am to 5.30 pm 2 hours and 15 minutes 5.15pm to 10.30pm 1 hour 15 minutes Z, P, Q, R, S, T, U, V, W zones 2pm from 5pm to 11pm
Economic crisis in Sri Lanka – China donated 2,000 tons of rice to Sri Lanka
The Chinese government has decided to donate 2,000 tons of rice to Sri Lanka. The Chinese Embassy in Colombo announced that the decision was taken in view of the food crisis facing Sri Lanka. The decision was taken as the two countries have been supporting each other since time immemorial. However, on the occasion of the 70th anniversary of the Rubber Rice Agreement between Sri Lanka and China, Sri Lanka has requested that 100,000 tons of rice be provided to Sri Lanka. Speaking to an English newspaper, a Chinese diplomat said that such a request had been made by Sri Lanka but China had rejected the request.
IMF released the report that Basil Rajapaksa refused to release
The International Monetary Fund (IMF) has released its report on Sri Lanka. The report says that the Sri Lankan economy has been severely affected by the corona pandemic. According to reports, it has reached a more severe level due to the loss of tourism revenue and the closure of the country. Today, Sri Lanka has a fiscal deficit of more than 10 percent of GDP. Sri Lanka’s public debt rose to 119 percent of GDP last year, the report said. At present, inflation in Sri Lanka is in double digits and the government has not been able to contain single-digit inflation. A controversy arose between Finance Minister Basil Rajapaksa and former Prime Minister Ranil Wickremesinghe over the report at the last All Party Conference. The Minister of Finance stated that this report is only a draft and that the Government of Sri Lanka has challenged it and therefore cannot provide it.