29 November 2021 02:29 pm
Sri Lanka will not experience power cuts although there is a foreign exchange crisis, the government assured today.
Minister of Petroleum Udaya Gammanpila was responding to a question raised by UNP MP and Former Prime Minister Ranil Wickremeisnghe in Parliament.
Mr. Wickremesinghe said the country is in for power cuts because of the foreign exchange shortage crisis as there are no dollars to make payments for coal and oil.
“Nearly 55% of the country's electricity is generated through hydro power at the moment. The demand for furnace oil has declined as a result,” the Minister said in response.
“Besides there is a stock of 70,000 metric tons left in storages and this could be utilized in the event of a drought. We have given priority to import fuel and pharmaceuticals and other health related products in the wake of exchange rates issues,” he added.
Mr. Wickremesinghe earlier said there could be power cuts and other serious issues because of the exchange rate crisis.
“As per the information we have received, Sri Lanka’s foreign reserves have declined to US$ 1.5 billion at the moment. Therefore we request the government to reveal Sri Lanka’s economic situation. As we understand some details have been sent to IMF,” he said.(Yohan Perera and Ajith Siriwardana)