Headline
News Desk | ০৪:৪০ পিএম, ২০২২-০৩-৩০
Sri Lanka on Wednesday began imposing record nationwide 10-hour daily power cuts as it ran out of hydro-electricity on top of a severe shortage of fuel.
The South Asian nation of 22 million people is in its worst economic crisis since independence in 1948, because of a severe shortage of foreign currency to pay for imports. The state electricity monopoly said it was imposing the 10-hour power cut, up from a seven-hour outage since the beginning of the month, because there was no oil to power thermal generators.
More than 40 percent of Sri Lanka's electricity is generated from hydro, but most of the reservoirs were running dangerously low because there had been no rains, officials said. Most electricity production is from coal and oil. Both are imported but in short supply as the country does not have enough foreign exchange to pay for supplies.
Meanwhile, the main fuel retailer, the state-owned Ceylon Petroleum Corporation (CPC), said there would be no diesel in the country for at least two days.
The CPC told motorists waiting in long queues at petrol stations to leave and return only after imported diesel is unloaded and distributed. Fuel prices have also been increased frequently with petrol up by 92 percent and diesel by 76 percent since the beginning of the year.
The government took 12 days to find $44 million to pay for the latest shipment of LP gas and kerosene, officials said.
Colombo imposed a broad import ban in March 2020 to save foreign currency needed to service its $51 billion in foreign debts. But this has led to widespread shortages of essential goods and sharp price rises. Many hospitals have stopped routine surgeries, and supermarkets have been forced to ration staple foods, including rice, sugar and milk powder.
The government has said it is seeking a bailout from the International Monetary Fund while asking for more loans from India and China.
The crisis was exacerbated by the Covid-19 pandemic, which torpedoed tourism and remittances. Many economists also blame government mismanagement including tax cuts and years of budget deficits.
National Desk : : Shahidul Islam,correspondant : Iftar and mahfil of Bangladesh Bianibazar Association of Buffalo Inc. was held at Buffalo Love Bird Restaurant on Monday, March 25th at 6:00 pm with the leaders of various social, political and business circles in Buffalo, ...বিস্তারিত
International Desk : : Benzamin Rafik: An exchange and discussion meeting with Bangladeshi students staying in Los Angeles on International Leadership Special Sudhijan of Bangladesh Association of Los Angeles Children was held at a restaurant near Artesia on Saturday afternoon. Bang...বিস্তারিত
International Desk : : Anowar hossain (mozid) : On the occasion of the 40th death anniversary of General Ataul Gani Osmani, the founder of Jatiya Janata Party, Bangbir, Bang Bahadur, General Ataul Gani Osmani, founder of Jatiya Janata Party, Bir Uttam Liberation War, "Hri...বিস্তারিত
International Desk : : Shariful Haque: On the occasion of the 40th death anniversary of General Ataul Gani Osmani, the founder of Jatiya Janata Party, Bangbir, Bang Bahadur, the commander-in-chief of Bir Uttam Liberation War, a prayer meeting and discussion meeting was held at Scien...বিস্তারিত
Entertainment Desk : : Shariful Haque: The great victory day was celebrated in Los Angeles on 17th December in a day-long "Bangla Victory Fleet" initiative and in a joyful atmosphere. December 16, Great Victory Day, the day of breaking the chains of the Bengali natio...বিস্তারিত
Entertainment Desk : : Foreign correspondant: Carom finals, prize distribution and cultural evening of various events of Bangladesh Posts Federation of California BSFC were organized at the Luxor Banquet Hall in Orange County, California. Last 24 November 2023, Friday, 24 November 2...বিস্তারিত
© সর্বস্বত্ব স্বত্বাধিকার সংরক্ষিত ২০১৯ - © 2024 The DailyTourist BD | Developed By Muktodhara Technology Limited