iPhone | iPad
Android
Huawei
The third instalment in the Fukrey series makes you question – what was the need for this one?
KT APPDOWNLOAD
Sri Lanka to experience daily 10-hour power cuts
This is 'due to inadequate power generation, as a result of fuel shortage and unavailability of generators'
Amid the financial crisis, Sri Lanka will be experiencing 10-hour daily power cuts from Wednesday, announced Public Utilities Commission of the island nation.
The Ceylon Electricity Board said in a statement that they were "compelled to take demand management measures due to inadequate power generation, as a result of fuel shortage and unavailability of generators," reported Xinhua.
Sri Lanka has been facing power cuts since February due to dwindling electricity production in hydropower plants as well as diesel shortages that have crippled the operations of thermal power plants, the Commission said.
Meanwhile, Ceylon Petroleum Corporation (CPC) on Tuesday announced that there will be a diesel shortage in the country on Wednesday and Thursday, reported Xinhua.
"We were unable to unload 37,500 tons of diesel shipment as planned on Tuesday. Therefore, we request the public not to queue up at filling stations for diesel on March 30 and 31," CPC Chairman Sumith Wijesinghe told the media.
Wijesinghe said the remaining stocks of diesel would be given to essential services.
Sri Lanka's currency has been also devalued by almost SLR 90 against the US dollar since March 8.
Sri Lanka's economy has been in a free fall since the COVID-19 pandemic due to the crash of the tourism sector.
Sri Lanka is presently facing a foreign exchange shortage which has led to a fuel, power and gas shortage and has sought the assistance of friendly countries for economic assistance.
India provided more than USD 500 million in foreign currency swaps to strengthen Sri Lanka's foreign reserves, taking the total up to USD 900 million. India also extended the repayment time frame for the USD 500 million debt of Sri Lanka under the Asian Clearance Arbitration.
ALSO READ:
More recently on March 17, Sri Lanka signed a USD 1 billion credit line deal with India for the procurement of food, medicines and other essential items during Sri Lankan Finance Minister Basil Rajapaksha's two-day visit to India.
The International Monetary Fund (IMF) on Friday recommended a number of measures, including tax hikes, for macroeconomic stability in Sri Lanka and also to mitigate adverse impacts on the vulnerable and the poor.
The report recommended implementing a credible and coherent strategy to restore macroeconomic stability and debt sustainability while protecting vulnerable groups and reducing poverty through strengthened, well-targeted social safety nets.
Sri Lanka's Finance Minister Basil Rajapakse is scheduled to travel to Washington in April in order to seek IMF assistance to deal with the country's economic crisis.
More news from
Spanish media said one teacher was in serious condition after being stabbed in the eye while the rest suffered light injuries
Move allows for the exchange of local currencies between the two central banks
Brent crude has gained about 30% since the start of July
Sharjah resident gets lucky again, plans to invest in daughter’s higher education
Incidence of heart attacks among young individuals has surged in the country and health professionals stressed the importance of annual health checkups
Public sector employees will get a paid holiday on Friday in the emirate