Sri Lanka is in discussion with India for another credit line of US $ 500 million for fuel imports, Daily Mirror learns.
It had been discussed when Sri Lankan High Commissioner to New Delhi Milinda Moragoda called on Indian Finance Minister Nirmala Sitharaman last week.
The credit line is in addition to US $ 500 million extended previously. In addition to this credit line, India offered another US 1 billion line of credit for essential imports. However, US $ 200 million of it has been utilized for fuel imports by the Sri Lankan authorities. In this manner, Sri Lanka has almost exhausted nearly US 700 million in term of Indian credit so far for diesel and petrol.
Sri Lanka is currently grappling with a fuel shortage with queues running for miles near filling stations.
Sri Lanka’s daily requirement of petrol is 4500 tonnes and diesel 6000 tonnes. (Daily Mirror)