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Sri Lanka's petrol stocks about to run dry: Minister
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IANS | 04 Jul, 2022
Sri
Lankan Energy Minister Kanchana Wijesekera has issued a stark warning
over the country's fuel stocks as it faces its worst economic crisis in
more than 70 years.
On Sunday, Wijesekera told reporters
that the country had 12,774 tonnes of diesel and 4,061 tonnes of petrol
left in its reserves, reports the BBC.
"The next petrol shipment is expected between the 22nd and 23rd (of July)," he added.
A
shipment of diesel is expected to arrive at the weekend, however
Wijesekera warned that the country does not have enough money to pay for
planned fuel and crude oil imports.
He said Sri Lanka's central
bank could only supply $125 million for fuel purchases, far less than
the $587 million needed for its scheduled shipments.
Wijesekera added that the country owed $800 million to seven suppliers for purchases it made earlier this year.
The
latest warning comes after Sri Lanka suspended sales of petrol and
diesel for non-essential vehicles last week as it struggles to pay for
imports like fuel, food and medicines, the BBC reported.
Experts
believe it is the first country to take the drastic step of halting
sales of petrol to ordinary people since the 1970s oil crisis, when fuel
was rationed in the US and Europe.
The island nation of 22
million people is facing its worst economic crisis since gaining
independence from the UK in 1948 as it lacks enough foreign currency to
pay for imports of essential goods.
Acute shortages of fuel, food
and medicines have helped to push up the cost of living to record highs
in the country, where many people rely on motor vehicles for their
livelihoods.
Also last week, an International Monetary Fund team
concluded a fresh round of talks with Sri Lanka over a $3 billion
bailout deal.
While no agreement has been reached yet, the team
said in a statement that it had made "significant progress on defining a
macroeconomic and structural policy package".
The cash-strapped
country has also sent officials to the major energy producers Russia and
Qatar in an attempt to secure cheap oil supplies.
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