30 November 2021 12:43 am Views - 149
By Yohan Perera and Ajith Siriwardana
Sri Lanka will not experience power cuts, although there is a foreign exchange crisis, the government assured yesterday.
Energy Minister Udaya Gammanpila said it in response to a question raised by UNP leader Prime Minister Ranil Wickremesinghe in Parliament.
Mr. Wickremesinghe said the country is in for power cuts because of the foreign exchange shortage crisis to make payments for coal and oil to be used in power generation.
“Nearly 55 per cent of electricity is generated by hydropower at the moment. The demand for furnace oil to generate thermal power has declined as a result,” the Minister said in response.
“Besides there is a stock of 70,000 tonnes in storage. This stock can be utilised in the event of a drought. We have given priority to import fuel, pharmaceuticals and other health-related products in the wake of exchange rates issues,” he added.
However, Mr. Wickremesinghe, “As per the information we have received, Sri Lanka’s foreign reserves have declined to $ 1.5 billion at the moment. Therefore, we request the government to reveal the information on Sri Lanka’s economic situation. As we understand, some details have been sent to the IMF (International Monetary Fund),” he said.