Dollar crisis : Minister Gammanpila provides update on fuel imports

January 8, 2022 at 1:38 AM

A fuel shortage may arise by mid-January if Sri Lanka does not sort out its foreign exchange crisis, Minister of Energy Udaya Gammanpila has warned.

He said if Sri Lanka does not resolve its foreign exchange crisis to import fuel, it will result in a fuel shortage in the country by the third week of January.

Minister Gammanpila told Neth FM that he had informed the Cabinet of Ministers on the matter on eight previous occasions.

However, a system has not been formulated as yet to address the issue, he added.

The Minister said the matter could be resolved if the necessary amount is allocated from the foreign exchange undertaken by the Central Bank of Sri Lanka for the importation of fuel and medicines only.

He further said that several countries have increased fuel prices in order to contain the demand.

Minister Udaya Gammanpila said, however, it has been proven that the hike in fuel prices cannot contain the demand for fuel in Sri Lanka. (NewsWire)