By Kelum Bandara

Lanka Indian Oil Company (LIOC) said it would not say ‘no’ to the supply of fuel for the Ceylon Electricity Board (CEB) for power generation, but insisted that the Sri Lankan side should make foreign exchange available for it.

LIOC Managing Director Manoj Gupta told Daily Mirror his company was also facing the foreign exchange issue in opening Letters of Credit (LC) for the import of fuel. He said such issues should be addressed.  

CEB Chairman M.M.C. Ferdinando said on Monday that he would resort to purchase fuel directly from LIOC using the US $ 500 million Indian credit facility on offer.  Cabinet approval has also been given now to proceed with the use of this credit arrangement to import fuel from India.  

Mr. Gupta, however, said he could not comment on the credit line because it was outside his scope. Sri Lanka is facing a power crisis since there is insufficient foreign exchange to import fuel for thermal power generation.

• SL is facing a power crisis since there is insufficient foreign exchange to import fuel for thermal power generation