Sri Lanka Fuel
Sri Lanka to obtain USD 500 million loan from India to buy fuel: Report
Colombo: The Sri Lankan government has sought a loan facility of USD 500 Million from India to purchase fuel, media reports said on Monday.
Chairman of the Ceylon Petroleum Corporation Attorney-at-Law Sumith Wijesinghe speaking to News 1st said, the facility will be secured with the intervention of the Indian High Commission in Sri Lanka.
Finance Secretary S. R. Attygalle told News 1st that the Energy Secretaries of both India and Sri Lanka are expected to sign an agreement for the loan in due course.
The move has been decided just days after energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only till next January.
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