Sri Lanka’s acting president, Ranil Wickremesinghe, has declared a state of emergency as his administration seeks to quell social unrest and tackle an economic crisis gripping the island nation.
Realizing the reality of accepting the pump up of fuel price to a new high in an irregular fuel pricing formula ,the Ceylon Petroleum Corporation (CPC) has slashed fuel prices with effect fro10 am yesterday although it was a very nominal reduction compared to current inflated price,
Sri Lanka’s fuel crisis now turned bad to worse is to be tackled to certain extent with the arrival of eight ships carrying petroleum will arrive in the island next week and the introduction of a special pass to ration petrol and diesel usage
The International Monetary Fund (IMF) is calling for political stability in Sri Lanka in order to resume key talks on bail out loan to rescue the island nation from the balance of payment crisis .