AIRLINK 204.45 Increased By ▲ 3.55 (1.77%)
BOP 10.09 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.91 Increased By ▲ 0.03 (0.44%)
FCCL 34.83 Increased By ▲ 0.74 (2.17%)
FFL 17.21 Increased By ▲ 0.23 (1.35%)
FLYNG 24.52 Increased By ▲ 0.48 (2%)
HUBC 137.40 Increased By ▲ 5.70 (4.33%)
HUMNL 13.82 Increased By ▲ 0.06 (0.44%)
KEL 4.91 Increased By ▲ 0.10 (2.08%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.31 Increased By ▲ 0.98 (2.26%)
OGDC 221.91 Increased By ▲ 3.16 (1.44%)
PACE 7.09 Increased By ▲ 0.11 (1.58%)
PAEL 42.97 Increased By ▲ 1.43 (3.44%)
PIAHCLA 17.08 Increased By ▲ 0.01 (0.06%)
PIBTL 8.59 Decreased By ▼ -0.06 (-0.69%)
POWER 9.02 Decreased By ▼ -0.09 (-0.99%)
PPL 190.60 Increased By ▲ 3.48 (1.86%)
PRL 43.04 Increased By ▲ 0.98 (2.33%)
PTC 25.04 Increased By ▲ 0.05 (0.2%)
SEARL 106.41 Increased By ▲ 6.11 (6.09%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 42.91 Increased By ▲ 0.58 (1.37%)
SYM 18.31 Increased By ▲ 0.33 (1.84%)
TELE 9.14 Increased By ▲ 0.03 (0.33%)
TPLP 13.11 Increased By ▲ 0.18 (1.39%)
TRG 68.13 Decreased By ▼ -0.22 (-0.32%)
WAVESAPP 10.24 Decreased By ▼ -0.05 (-0.49%)
WTL 1.87 Increased By ▲ 0.01 (0.54%)
YOUW 4.09 Decreased By ▼ -0.04 (-0.97%)
BR100 12,137 Increased By 188.4 (1.58%)
BR30 37,146 Increased By 778.3 (2.14%)
KSE100 115,272 Increased By 1435.3 (1.26%)
KSE30 36,311 Increased By 549.3 (1.54%)

COLOMBO: Sri Lanka has approved a four-day work week for public sector workers to help them cope with a chronic fuel shortage and encourage them to grow food, the government said on Tuesday, as it struggles with its worst financial crisis in decades.

The island nation, which employs about one million people in its public sector, has been hit by a severe foreign exchange shortage, which has left it struggling to pay for critical imports of fuel, food and medicine.

Many of the country’s 22 million people have to queue up at petrol stations for hours and have been enduring long power cuts for months.

Sri Lankan shares end lower; bailout package awaited

Sri Lanka’s Cabinet late on Monday approved a proposal for public sector workers to be given leave every Friday for the next three months, partly because the fuel shortage made commuting difficult and also to encourage them to farm.

“It seems appropriate to grant government officials leave of one working day to engage in agricultural activities in their backyards or elsewhere as a solution to the food shortage that is expected,” the government information office said in a statement.

The United Nations last week warned of a looming humanitarian crisis and it plans to provide $47 million to help more than a million vulnerable people.

Currency depreciation, rising global commodity prices and a now-reversed policy to ban chemical fertilizer pushed food inflation to 57% in April.

The government is in talks for a bailout package with the International Monetary Fund and a delegation is expected in Colombo on June 20.

The United States is also ready to help, Secretary of State Antony Blinken said after a phone call with Prime Minister Ranil Wickremesinghe late on Monday.

“During these economically and politically challenging times, the US stands ready to work with Sri Lanka, in close coordination with the International Monetary Fund and the international community,” Blinken said on Twitter.

Wickremesinghe said this month Sri Lanka needed at least $5 billion to meet essential imports for the rest of the year.

Comments

Comments are closed.