At present, Sri Lanka is facing a huge economic crisis. The debt on the country is increasing continuously, and there is currently no way to get out of it. Due to the deteriorating economic situation, inflation has reached a peak in Sri Lanka, which is now affecting the common man. Actually, people in Sri Lanka are suffering due to rising inflation.
According to a report, two people died after standing in line for hours on Sunday. According to the Sri Lankan police, people troubled by rising prices every day are buying fuel and storing it. Meanwhile, on Sunday, two people standing waiting for fuel died in two different areas of Sri Lanka. Police spokesman Nalin Thalduwa in Colombo said that both of the dead were elderly, who were over 70 years old. Both the people were waiting in line to get petrol and kerosene at different places.
During this, he fell unconscious and died. There are continuous power cuts for several hours in Sri Lanka. Due to this people are taking fuel by queuing at the pumps for hours. According to the police, the first person to die was a 70-year-old three-wheeler driver, who was a diabetic and a heart patient, while the second person was 72 years old. Both were waiting in line for almost 4 hours for fuel.
Ashok Ranwala, president of Petroleum General Employees Union, said that its only fuel refinery has also been closed after the crude oil stocks in the country ran out on Sunday. In fact, after the huge increase in the prices of LPG, kerosene has become the only support for low-income families, and due to this, the demand for kerosene has increased. Laugfs Gas, the second largest supplier of LPG in Sri Lanka, said in a statement that the price of 12.5 kg cylinder has been increased by $ 4.94 (Rs 1,359). Let us tell you, Sri Lanka has been facing a fuel shipment payment crisis since January.
The country's foreign exchange reserves fell to $2.31 billion in February. Sri Lanka's inflation reached 15.1 percent last month, the highest in Asia. At the same time, food inflation rose to 25.7 percent. Due to inflation, the price of 400 grams of milk powder increased by Rs 250 ($ 0.90) on Saturday, forcing restaurant owners to increase the price of a cup of milk tea by up to Rs 100. Not only this, there is no dollar to buy paper in the country.
Due to not being able to buy paper, the examinations of lakhs of students in the country have been postponed indefinitely. According to officials, the country does not have dollars to buy paper from outside. Meanwhile, the Sri Lankan government announced that it would seek a bail-out package from the IMF to resolve its worsening foreign debt crisis and increase foreign exchange reserves. The International Monetary Fund has assured to discuss President Gotabaya Rajapaksa's request.