New Delhi, 17 October 2021

As per news report of NDTV, The move came few days after energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only till next January. The state-run Ceylon Petroleum Corporation (CPC) owes nearly USD 3.3 billion to the two main government banks -- Bank of Ceylon and People's Bank. The state oil distributors imports crude from the Middle East and refined products from other areas, including Singapore. "We are currently engaged with the Indian High Commission here to obtain the facility (USD 500 million credit line) under the India-Sri Lanka economic partnership arrangement," CPC Chairman Sumith Wijesinghe was quoted as saying by local news website newsfirst.lk. He said the facility would be utilised for purchasing petrol and diesel requirements.

Source - NDTV

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