Sri Lanka receives 40,000 MT diesel consignment from India; set to import 50,000 MT rice

As Sri Lanka continues to face economic turbulence, the worst ever since the country became independent in 1948, Colombo received another 40,000 metric tons of diesel consignment under Indian assistance on Thursday. India has been extending a helping hand to its neighbouring country, which has been gripped by a severe economic crisis and the latest assistance came nearly two weeks after the government handed over a large amount of humanitarian assistance consignment worth over Rs 2 billion to the island country. 

According to the government, the consignment includes 9,000 metric tons of rice, and 50 metric tons of milk powder, coupled with over 25 metric tons of drugs and other pharmaceutical supplies. Meanwhile, Sri Lanka has also sought India's help in importing 50,000 metric tons of rice under the Indian loan assistance programme.

According to newly appointed Prime Minister Ranil Wickremesinghe's press office, the major development came after a discussion was held at the Prime Minister's Office to allocate the necessary funds for this purpose to the State Trading Corporation under the Indian Loan Assistance Program. The island country is expecting that the import of rice will prevent a possible rice shortage in the future and curb the abnormal rise in rice prices in the crisis-hit island country.

PM Ranil accuses the earlier government of the current situation

Meanwhile, the Sri Lankan PM blamed the earlier government for the food crisis in the country. According to him, the Mahinda Rajapaksa-led government had abruptly implemented a 100% organic agriculture model by banning chemical fertilisers in April last year. He said this resulted in the collapse of the agriculture sector. Moreover, he said that foreign exchange shortages caused by a fall in tourism during the COVID-19 pandemic were also a major reason for the current situation. However, this time, securing fertiliser and compiling a food security program were being given equal priority, he maintained. 

Sri Lanka economic crisis

The island nation has been experiencing its worst economic crisis in history. The country has huge debt obligations and dwindling foreign reserves, and has been struggling to pay for imports, causing a shortage of essentials. Citizens are forced to stand in long queues for fuel, cooking gas, and medicines. Earlier in April, the International Monetary Fund (IMF) assured the country to help with an estimated amount of $300 million to $600 million. According to IMF, the island nation will receive a hefty amount from the World Bank over the next four months.

Image: @IndiainSL/Twitter