Due to a shortfall of hydroelectricity caused by a lack of fuel, the Sri Lankan government ordered a statewide 10-hour daily power cut on Wednesday, March 29, 2022.
Due to a lack of foreign cash, Sri Lanka is experiencing an unprecedented acute economic and energy crisis. Thousands of people queued for hours outside petrol filling stations due to a sudden increase in the price of basic goods and a fuel shortage. People are also subjected to daily power outages lasting several hours. Due to import limitations imposed by the currency crisis, all essentials are in limited supply.
Sri Lanka is forced to have power cut due to an economic crisis
The island nation’s daily power outages have been extended to ten hours as of Wednesday morning, according to officials. Since the beginning of the month, the country has been without power for seven hours. “There is a 750-megawatt shortage due to a lack of fuel to generate thermal electricity,” said Janaka Ratnayaka, chair of the Public Utilities Commission.
Because it was unable to pay for a shipment that had arrived, the state-run Ceylon Petroleum Corporation (CPC) has requested motorists not to queue outside gasoline outlets on Wednesday and Thursday to purchase diesel. However, it was unclear where the shipment had come from. The CPC stated that the ship would only be unloaded on Friday.
Gamini Lokuge, the energy minister, said the government will purchase 6,000 metric tonnes of fuel from LIOC, the Indian Oil Corporation’s Lanka subsidiary. He explained, “It will be used for emergency services and electricity generating.” A shipment of diesel under the Indian credit line is scheduled on Thursday, according to Lokuge.
Following a previous USD 500 billion line of credit in February to help Sri Lanka purchase petroleum goods, India recently announced the extension of a USD 1 billion line of credit as part of its financial support to the country to deal with the economic crisis. External Affairs Minister S. Jaishankar reaffirmed India’s continuing assistance for Sri Lanka’s economic recovery during his recent visit to Colombo.