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** Enforcement of Covid-19 health guidelines urgently necessary ** Launch passengers have turned to buses after opening of the Padma Bridge. Empty launches are seen passing idle time at Sadar Ghat launch terminal on Tuesday. NN photo ** Cattle-loaded trucks easy prey to extortions ** US wants fair elections in BD:Envoy ** Experts say worst, substandard ** PM mulls area-based specific time power cuts to save fuel ** Blacksmiths passing busy time for Eid-ul-Azha ** Sri Lanka admits bankruptcy, crisis to drag through 2023 ** KFC Brings Texas BBQ Zinger in Town ** Niko graft case against Khaleda Zia, charge hearing deferred ** Tipu murder case, probe report on Aug 31 ** Teacher Utpal murder case, prime accused father confesses ** Bangladesh sends humanitarian assistance to Afghan people ** CEC is irrelevant for assuring free election unless parliament is dissolved ** Power generation falls, causing frequent load-shedding ** The Padma River is about to devour the Chawkrajpur Govt Primary School at Bagha, Rajshahi. The school is now five metres away from the erosion point. The headmaster of the school, Mujibur Rahman, urged the local administration to build an embankment so that the school could still be saved. The Upazila Education Officer, Mir Mamunur Rahman, said that the school could be shifted to a different place if the erosion situation demands so. As there was no embankment there, one kilometre road built at the cost of Tk 42 lakh at Chawkrajpur is already gone into the river. NN photo ** Illegal Indian cattle in Bangladesh market, local farmers frustrated ** Kushtia BCL leader sets himself on fire at Press Club ** Tanners set to procure about 1 cr pieces of rawhide despite fund crisis ** Bangladesh logs four month's highest 12 deaths from Covid ** We see no end to overwhelming lawlessness everywhere: Problem is muscle politics ** Remittance dips 15pc amid forex crisis ** Lawyer’s six bank accounts frozen ** CEC assures OECD envoys to hold inclusive, acceptable polls ** Exports hit record $ 52b in outgoing fiscal year **

Sri Lanka out of petrol, economy in a precarious condition: PM Wickremesinghe

17 May 2022
Sri Lanka out of petrol, economy in a precarious condition: PM Wickremesinghe

Ranil Wickremesinghe


Hindustan Times  :
Sri Lanka Prime Minister Ranil Wickremesinghe on Monday said the island nation's economy was in a precarious condition and that the cash-strapped nation was currently out of petrol.
"We have run out of petrol... At the moment, we only have petrol stocks for a single day," Wickremesinghe said, adding that his bankrupt country could face more hardships in the coming months.
Wickremesinghe, who was made the Prime Minister last week after Mahinda Rajapaksa put in his papers in the wake of continued protests over the economic situation, proposed setting up of a national council of all political parties to find solutions to the ongoing crisis.  He also proposed privatising the Sri Lanka airlines.
"At present, the Sri Lankan economy is extremely precarious. Although the former government's budget projected revenue of SLR 2.3 trillion, SLR 1.6 trillion is the realistic projection of this year's revenue," the PM said in Colombo.
Stating that there was shortage of 14 essential drugs and inflation was likely to go up in the short term, the PM said, "We have to continue printing monet to pay salaries and for essentials.
He added that two more petrol and diesel shipments were due using Indian credit line.
"In November 2019, our foreign exchange reserves were at $7.5 billion. However, today, it is a challenge for the treasury to find $1 million. The Ministry of finance is finding it difficult to raise $5 million required to import gas," he added.

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