President Anura Kumara Dissanayake has urged all parties involved in the ongoing Middle East conflict to commit to a swift and peaceful resolution, warning of its potential repercussions on the global economy, including Sri Lanka.
Addressing Parliament yesterday (03), the President said military conflicts do not create favourable conditions for any group and highlighted the destructive capacity of modern military technologies.
“Our position as Sri Lanka is that all parties involved in this war must, as soon as possible, make the necessary commitments and take steps toward a peaceful world,” he said.
The President noted that Sri Lanka cannot isolate itself from the consequences of the conflict, adding that the lives of Sri Lankans could be significantly affected. He said a national programme is being prepared to address emerging challenges, while stressing that lasting solutions require international commitment to peace.
He warned that the conflict could disrupt global oil and gas supplies and create difficulties for Sri Lankans living in the Middle East. The tourism industry, foreign remittances, shipping and aviation sectors could also be impacted, he said.
Acknowledging public concern, President Dissanayake said societal stability requires practical assurances, not just statements. He added that while the Government has managed multiple crises since taking office, the Middle East conflict presents unique uncertainties.
The President said the Government is closely monitoring developments. The Central Bank of Sri Lanka has conducted a review and is expected to submit a report on the potential economic impact shortly. The Ministry of Finance is also preparing an assessment on the impact on public life, alongside a programme to ensure the continuity of essential services for citizens both locally and overseas.
“The primary responsibility for finding a path out of the crisis rests with the government. However, Parliament and the people also have a role to play. We must face this challenge together with a common objective and plan,” he said.
Addressing concerns over fuel supplies, the President detailed the country’s current reserves and storage capacity.
He said Sri Lanka’s storage facilities at Kolonnawa and Muthurajawela have a combined capacity of approximately 150,000 metric tons, excluding the IOC tanks in Trincomalee. Diesel reserves are sufficient for 33 days, while petrol stocks are adequate for 27 days. A shipment of 35,000 metric tons of petrol expected on March 7 or 8 will extend reserves to around 40 days.
Aviation fuel stocks are sufficient for 49 days, with daily refining covering a significant portion of demand. Several fuel shipments are scheduled throughout March, including vessels from RM Parks, Sinopec, the Indian Oil Corporation (IOC) and the Ceylon Petroleum Corporation (CPC).
Crude oil stocks are currently sufficient for 26 days, with an additional shipment expected to extend refinery operations to a total of 44 days.
“Because of this, there is no crisis regarding oil,” the President assured Parliament.
