COLOMBO: Sri Lanka has paid $35.3 million for a 40,000 tonne diesel shipment, an energy ministry official said on Wednesday, seeking to stave off rolling power cuts amid a foreign exchange crisis that has hampered purchases of diesel for power plants.
"The government has made the payment and the ship will start offloading fuel soon," said the official, who declined to be named as he is not authorised to speak to media.
Sri Lanka is battling its worst financial crisis in years with foreign exchanges reserves hitting $2.36 billion at the end of January.
The country has to repay about $4 billion in debt repayments this year.
The reserves crunch has impeded the island nation's ability to purchase essential imports, including fuel.
Sri Lanka out of cash to buy oil: minister
The country of 22 million people requires about 4,000 tonne of diesel everyday to run multiple thermal power plants, and the power regulator announced hours-long load shedding this week to conserve fuel stock.
"Priority will be given to meet requirements of the vehicle fleet and about 10,000 tonnes will be released for thermal power generation," the energy ministry official said.
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