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Sri Lanka faces severe fuel shortage, as crisis deepens

Sri Lanka faces severe fuel shortage, as crisis deepens

New Delhi: There is no end to crisis in Sri Lanka. The nation is fast becoming an economic backwater, offering no hope in sight.

The nation of 21.8 million is running out of diesel by the end of this month. It means everything run on diesel coming to a grinding halt.

India's credit cushioning of $500 million for fuel purchases is exhausting fast, according to PTI.

Experts predict the nation's goods and services exports to be plunging to 20 to 30 per cent this year.

Industry leaders for areas including tea and garment are in fears over high freight charges, power cuts and other issues, according to Reuters, as they foresee deepening plunge in exports.

Doctors are reported to be clamournig for vital medicines as the hospital run out of their drugs.

A letter by Lanka Medical Association reported President Gotabaya Rajapaksa about hospitals curtailing services.

The outfit alerted the President that in a matter of weeks emergency treatment would not be possible, predicting catastrophic deaths.

On the streets, frustrating scenes continue. People coming out in their hundreds protest against the government.

Police vainly try to disperse them. On Thursday sporadic demonstrations flooded streets outside Prime Minister Mahinda Rajapaksa's residence.

President Office on Thursday brought in Nandalal Weerasinghe as the new Governor of Bank of Sri Lanka replacing Ajith Nivard Cabraal.

It is no gainsaying the change of guard will have little effect on the economy.

Reports say hunt has started for a new Finance Minister after Ali Sabry resigned just a day after his appointment.

At a media briefing, India's External Affairs Ministry Spokesperson Arindam Bagchi said India was keenly observing the situation in Sri Lanka.

The spokesperson also pointed out India's help to Sri Lanka that includes USD 1 billion credit and over 270,000 metric tonnes of diesel and petrol and 40,000 tonnes of rice, among others.

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