Tuesday May 21, 2024
Tuesday May 21, 2024
Wednesday, 8 June 2022 02:49 - - {{hitsCtrl.values.hits}}
Prime Minister Ranil Wickremesinghe
Prime Minister Ranil Wickremesinghe yesterday requested the public to minimise their use of fuel and gas, warning that the next three weeks will be tough in regards to fuel.
“We all must use fuel and gas as carefully as possible. Non-essential travel should be limited as much as possible. After those difficult three weeks, we will try to provide fuel and food without further disruptions,” Wickremasinghe said in a special statement to Parliament.
He said that negotiations are underway with various parties to ensure that fuel and other supplies are provided undisturbed after this period. “After these difficult three weeks, we are trying to ensure the shortage of fuel and gas will have ended. I urge people to refrain from thinking about hoarding fuel and gas during this period,” the Prime Minister said.
While the outlook on fuel and gas supplies looks optimistic after three weeks, the Prime Minister painted a grim picture of with regards to the food supplies in the coming months.
“In terms of rice, our country’s annual rice requirement is 2.5 million metric tons. But we have only 1.6 million metric tons of rice in stock. This condition is not only restricted to paddy but many other crops. So, in a few months we will have to face serious difficulties and shortages in terms of our diets. We need to import food items to meet our daily requirements. It costs about $ 150 million a month,” the Prime Minister said.
Wickremesinghe said the Government is currently involved in various international assistance programs to import medicines and health equipment required for the country.
“We do not need large amounts of foreign exchange for health for the next six months as those groups and countries have provided substantial support for our health system,” he said.
The Prime Minister added that the country will need $ 5 billion to ensure that daily lives are not disrupted for the next six months. “We need to strengthen the rupee in line with the daily requirements of the citizens. Another $ 1 billion is needed to strengthen the rupee. That means we need to find $ 6 billion to keep the country afloat for the next six months,” he said.
Amidst these, he said, the country needs to develop plans to raise the average national product. “According to the Central Bank, the average GDP growth in 2022 will be -3.5%. According to the International Monetary Fund, the situation is even worse.
“According to them, its growth will be -6.5%. The average national output of the global economy will decline next year due to the impact of the war in Ukraine. Recovery is forecast for 2024. We also have to face that global environment,” he added.
The Premier added that talks are on with the International Monetary Fund based on a future economic plan.
“The year 2023 will see us face all the challenges. We need to achieve economic stability by the end of this year. Then by 2024 we will have the opportunity to create economic stimulus through financial stimulus.
“By 2025, our goal is to balance our budgets or create a primary surplus. This economic program must continue to move towards this long-term goal. Even if the individuals, groups and parties in power change, it is imperative that we achieve our national goals and maintain the highest level of efficiency in the country,” he added.
The Prime Minister disclosed the United Nations has arranged for a worldwide public appeal tomorrow (9 June) and they are seeking support to provide humanitarian assistance to Sri Lanka. He said that through this project, they plan to provide $ 48 million over a four-month period to the food, agriculture and health sectors.
