Diesel shipment that arrived in Colombo on 16 July still not paid for want of dollars-By Shiran Ranasinghe and Sanath Nanayakkara Source:Island The Ceylon Petroleum Corporation (CPC) has still not paid for a ship carrying 40,000 tonnes of diesel that had arrived in Colombo Port on 16 July 16. The CPC has to pay 52 million dollars to the Dubai based Coral Energy before unloading the diesel. Moreover, the CPC also has to pay 198,000 US dollars as late charges, port charges and insurance fees. A senior CPC official said that they purchased the diesel shipment under the spot tender method to resolve the fuel shortages. He added that they did not have dollars to pay for future shipments and that they must limit the stocks released to the market.Earlier this week Governor of the Central Bank Dr. Nandalal Weerasinghe said Sri Lanka needed USD 350-400 million to import oil ...

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Sri Lanka’s forex crisis to prolong fuel shortage at least for 12 months – minister Measures will be imposed to curb fuel import bill Source:Economynext ECONOMYNEXT – Sri Lanka’s fuel import will have to be limited for the next 12 months due to a dollar shortage and a systematic fuel rationing system with a QR-code is being rolled out nationwide, the Power and Energy Minister Kanchana Wijesekera said. The QR system is to be implemented island-wide on Tuesday 26 as a measure to supply fuel as the government cannot fulfil the daily demand, the minister said in his Twitter feed. “Due to Forex issues, fuel imports have to be restricted in the next 12 months,” Wijesekera said on Monday (25). Sri Lanka’s average fuel import bill is around 500-550 million US dollars per month at present while the country has only a few million usable reserves as of end-June. ...

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Sri Lanka faces risk of airlines pulling out as jet fuel issue worsens-By Nishel Fernando Source:Dailymirror No solutions found yet for jet fuel shortage and fund repatriation issues faced by local aviation industry  Cabinet proposal to allow bunker fuel license holders to import jet fuel, appears to be a non-starter Airlines have cut air seat capacity to Sri Lanka by 53% over the past couple of months as they carry additional fuel for return trip Due to fund repatriation issues, Sri Lanka and Pakistan have been moved to IATA’s ‘blocked funds’ list from the ‘watchlist’ With no credible solution in sight to resolve the jet fuel shortage and the fund repatriation issues faced by the country’s aviation industry, several airlines are contemplating on suspending their operations to Sri Lanka threatening tourism industry’s recovery, which depends on air connectivity. ...

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Much-awaited fuel distribution begins today as pilot project in Colombo-By Ifham Nizam Source:Island The much-awaited fuel distribution will commence today from Colombo and countrywide from next Monday as instructed by Power and Energy Minister Kanchana Wijesekera on Tuesday. 1236 Ceylon Petroleum Corporation (CPC) filling stations will dispense fuel using the new app with QR code and the last number on the vehicle number plates. To date, more than one million motorists have registered under the new system. Motorcycles will be permitted fuel up to a limit of Rs.1,500, three-wheelers Rs. 2,000 and cars, vans, lorries, buses Rs.7000. A spokesman of the Power and Energy Ministry said that fuel would be issued based on the last digit of the vehicle registration number; Number plates ending with 0,1,2 will be issued fuel on Tuesday and Saturday; number plates ending with 3,4,5 will be issued fuel on Thursday and Sunday; and number plates ...

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ceylon filmfest – friends dance – real jaffna – thaminie’s piano – bilal and dimanthi – By Jayam Rutnam Good News From Jayam July 1, 2022 Pls Scroll Down 35 items Lankan Tri Forces Receive Rapturous Welcome by British Public at Queen’s Platinum Jubilee Pageant Lankan High Commissioner Saroja Sirisena and her Minister Counsellor (Defence) to the Sri Lankan High Commission in the UK, Brigadier L H Mahinda Rajapaksha with the Lankan military contingent participated at the Pageant. At the invitation of British Government, a contingent of Sri Lankan Tri Forces participated at the Queen Elizabeth II’s Platinum Jubilee Pageant and official birthday held last week. Distinguished military personnel from Sri Lanka bearing the national flag fluttering in the air, marched past Buckingham Palace in the presence of the Royal family members. Lobero Theatre Hosts First-Ever Sri Lankan Ceylon International Film Festival in Santa Barbara, Ca. The historic Lobero Theatre in ...

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SOLVING ECONOMIC CRISIS – By Dr. Tilak S. Fernando For weeks, motorists in Sri Lanka continuously lined up in long queues to obtain diesel and petrol. It has turned out to be a daily routine at present. Many women line up in rows to receive LP Gas or kerosene while their husbands spend long hours in petrol queues. Thanks to swift action by the authorities, it appears that mile-long queues are diminishing gradually for petrol. Meanwhile, diesel queues are getting longer and longer. All of these were due to the adamant policies adopted by the authorities, causing a scarcity of dollars in Government coffers. Some blame the ex-Minister of Finance, Basil Rajapaksa, former Prime Minister Mahinda Rajapaksa and the ex-Governor of the Central Bank, Nivard Cabraal, for the current adversity. Leaving aside who is to blame for the current adversity, the sudden increase in the Cost of Living has caused ...

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