• Tue. Nov 29th, 2022

India supplies extra 40,000 metric tonnes of diesel to cash-strapped Sri Lanka

ByChad J. Johnson

May 22, 2022

As Sri Lanka is in the throes of severe economic and energy crisis, India has provided another shipment of 40,000 MT of diesel to Sri Lanka to help alleviate the fuel shortage in the country.

The High Commission of India in Sri Lanka informed about the ongoing dispatch on Twitter.

“Diesel pumping in #SriLanka!!! Another shipment of 40,000 tons of diesel under #India’s line of credit reached #Colombo today,” the High Commission of India in Sri Lanka tweeted. Lanka.

Besides, another consignment carrying rice, milk powder and medicine worth more than SLR 2 billion from India is expected to arrive in Colombo on Sunday. The shipment was reported to Chennai by the Chief Minister of Tamil Nadu, MK Stalin.

The Indian High Commission also tweeted: “People of #India, alongside their brothers in #SriLanka. Rice, milk powder and medicine worth over SLR 2 billion is expected to reach #Colombo on Sunday. The shipment was reported from #Chennai by Tamil Nadu CM @mkstalin on Wednesday.”

Moreover, India has pledged to provide more than $3 billion to the indebted island country in the form of loans, credit swaps and also lines of credit since the beginning of the year.

Sri Lanka is going through the worst economic crisis since its independence in 1948. A crippling shortage of foreign exchange reserves has led to long queues for fuel, cooking gas and other basic necessities, while cuts of electricity and soaring food prices have aggravated the misery of the population.

The economic crisis has also sparked political unrest in Sri Lanka and a demand for the resignation of the powerful Rajapaksas.

In line with Neighborhood First policy, India has pledged nearly $3 billion to cash-strapped Colombo through currency swaps, lines of credit for essential goods and loan repayments since then. January 2022 to help Sri Lanka.

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.