Sri Lanka is in the midst of its worst economic crisis in decades: due to a severe fuel shortage in Sri Lanka, the government has banned sales to private individuals for two weeks. In addition, energy supplier Ceylon Electricity Board (CEB) wants to increase the electricity price by more than 800 percent.
Until July 10, the island state may only have fuel for absolutely necessary services, such as vehicles in the health sector, at the port, at the airport or for food distribution, Transport Minister Bandula Gunawardana said Monday. At the same time, government offices and a number of schools where students need transportation remained closed.
More fuel and gas after July 10
The new restriction on fuel sales is likely to further affect the economy in the country. However, the minister assured that there are plans to make more fuel and gas available after 10 July. He left open what these plans should look like.
Price increase of more than 800 percent
In addition, Sri Lanka’s energy supplier Ceylon Electricity Board (CEB) wants to drastically increase the price of electricity for the poorest. The rate for up to 30 kilowatt-hours per month will be increased from the current 54.27 rupees (equivalent to 14 cents) to 507.65 rupees – an increase of more than 800 percent, the Public Utilities Commission announced Monday.
A majority of private households will not be able to afford this increase, said Colombo committee chair Janaka Ratnayake. “That’s why we’ve proposed that the Treasury Department provide a direct grant so that the increase can be halved.” A decision has not yet been made. According to Ratnayake, companies should pay 43 to 61 percent more for electricity.
Daily power outage reduced
Sri Lanka is in the midst of its worst economic crisis since independence. A few months ago, the government imposed a 13-hour power cut – which was reduced to four hours as hydroelectric plants have been full since then.
Energy Minister Kanchana Wijesekera apologized on Sunday and announced that two ministers would travel to Moscow to discuss buying cheap Russian oil.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
