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Sri Lanka to purchase four fuel shipments from India on cash payment terms

29 June 2022 06:52 am - 10     - {{hitsCtrl.values.hits}}

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  • Diesel shipment will come first
  • It will take a week for it to materialise

In a step close to integration with India in energy security, Sri Lanka has sought to purchase four shipments of fuel – 40,000 tonnes each- from India on cash payment terms, Daily Mirror learns.

India is a bulk purchaser of fuel from the global market with attractive discounts. There is a proposal in the road map worked out by the Sri Lankan envoy to New Delhi Milinda Moragoda for the development of bilateral relations to tie up with India to buy fuel from the world market together, to benefit from the same discounted rates. Foreign Affairs Minister Prof. G.L. Peiris also proposed the idea during a meeting in recent times.

According to well informed sources, Sri Lanka has now sought to purchase four shipments of fuel from India instead of on credit. Initially, a shipment of diesel will be dispatched. Afterwards, petrol will be sent depending on the requirements. However, it will take at least one more week for the purchase to materialise.

Already, Sri Lanka has bought US $ 700 million Indian credits to import fuel. The latest proposal for cash payment transaction comes in the wake of the government seeking another credit line of US $ 500 million.

Daily Mirror learns that the next credit line is also in the process. Sri Lanka currently faces uncertainty over the next shipment of fuel. (Kelum Bandara)


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  Comments - 10

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  • Punchi Wednesday, 29 June 2022 07:02 AM

    The best scenario is for India to include an allocation of a few billion dollars in its annual budget for perpetual credit to us on the understanding that no repayment will be required

    Chinta Wednesday, 29 June 2022 07:52 AM

    What is that Rajapaksha lackey Kunkana doing in Qatar?

    dieFromHunger Wednesday, 29 June 2022 08:11 AM

    let us know if there are commissions of any

    H W SAMEERA ERANJITH Wednesday, 29 June 2022 08:20 AM

    If it is purchase on cash basis, why don't we buy direct from oil producer?

    Too hot tohandle Wednesday, 29 June 2022 05:45 PM

    Sorry Bro! No real producer will sell SL anything even for ready cash. We have become the flee infested mangy dog to the whole world. Reason, we killed 260 Christians in cold blood, for power. Now, the power seat has become too hot to sit.

    Arnold Wednesday, 29 June 2022 08:30 AM

    All weather friend demanding cash. Look like like china, USA, EU, India is also abandoning our working hero.

    Joshua Wednesday, 29 June 2022 08:38 AM

    Cash plus what? Why don't you Leases that Parliament land to India? They will make use of that place

    TONI Wednesday, 29 June 2022 09:06 AM

    THE IMPORTANT QUESTION IS WHEN? WHY DID THEY WAIT TILL THE LAST MINUTE?

    Rumesh Wednesday, 29 June 2022 09:17 AM

    We should be part of india . Gotabaya rajapaksa must become Chief Minister of Sri Lanka.

    M M Wednesday, 29 June 2022 11:20 AM

    Who is going to pay these debts


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