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Sri Lanka Crisis: Sri Lanka, a country of 22 million people, is under the grip of an unprecedented economic turmoil, leaving millions struggling to buy food, medicine, fuel and other essentials.
Colombo: Sri Lanka will restrict fuel imports for the next 12 months as it is facing a severe shortage of foreign exchange, Minister of Power and Energy Kanchana Wijesekera has said while announcing a rationing system for the distribution of fuel across the crisis-hit island nation.
Sri Lanka, a country of 22 million people, is under the grip of an unprecedented economic turmoil, leaving millions struggling to buy food, medicine, fuel and other essentials.
The severe foreign exchange shortage has hampered the import of fuel and other essentials in the country reeling under the worst economic crisis in seven decades.
Taking to Twitter on Monday, Wijesekera said a QR system has been introduced as the daily fuel demand cannot be fulfilled.
"QR system was introduced since the daily fuel demand cannot be fulfilled. Due to Forex issues, Fuel imports have to be restricted in the next 12 months," he said.
"Ceylon Petroleum Corporation (CPC) has never distributed Fuel daily to Every single Fuel Station. Practically not possible even when stocks are unlimited," he said.
With the government hard pressed to pay for fuel imports due to the severe forex crisis, it introduced a fuel pass scheme on Saturday where the issues would be rationed under a limited weekly quantity.
Since June 27 the government has stopped fuel supplies and restricted essential services.
In a series of tweets, the minister explained the implementation of the National Fuel Pass.
"The National Fuel License (QR) will be implemented from July 26 at several CEYPETCO and the Lankan Indian Oil Company (LIOC) petrol stations across the country. This system will be in effect until August 1 with the last digits of the number plate," he said.
Filling stations not equipped or having technical difficulties will follow the last digit system and fuel quota allocation until the technical issues are rectified, he said, adding that 60 per cent of the locations had already been equipped and tested and will be given a priority in fuel distribution.
"All petrol station owners of CEYPETCO and LIOC are requested to adopt QR system immediately and distribution will be strictly enforced to fuel stations with the QR facilities by 1st of August. We request the public to register with National Fuel Pass and support the initiative," he said.
"Options will be given to users to register multiple vehicles with their business registration by the end of the week and to Government institutes to register. Divisional secretaries will be given access to the platform to register generators, gardening equipment and other equipment," he said.
Wijesekera said the police department and divisional secretaries will be given access to register three-wheelers, allocating each three-wheeler to one specific fuel station.
"Other services such as Health, Agriculture, Fisheries, Tourism, Industries and service providing sectors will be given access to the system to register their requirements and allocation of vehicles at fuel stations," he said.
"From the 1st of August only the QR system quota will be in place and the last digit of the number plate system and other allocations will be invalid. National Youth Corp and National Youth Council members and volunteers will assist the program at fuel stations for the next 10 days," the minister said.
In crisis-hit Sri Lanka, many incidents of violence have been reported at fuel queues and nearly 20 people have died of exhaustion after spending several days continuously in the fuel queues.
Since the beginning of this year, Sri Lanka relied on an Indian line of credit to fund fuel purchases.
Sri Lanka, which relied on an Indian credit line for fuel imports till February, has now exhausted the facility. The last fuel shipment under the Indian Credit Line arrived on June 16.
Sri Lanka's fuel and energy sectors are the worst hit by the forex shortages triggered by the unprecedented economic crisis.
The government declared bankruptcy in mid-April by refusing to honour its international debt. The situation created a thriving black market where people paid to secure a place in the queue and fuel was sold 4 times higher than the legal retail price.
Former President Gotabaya Rajapaksa was forced out of power last week due to his poor handling of the economy.
DailyFT published July 26, 2022: Fuel Pass QR code from 1st August. Power and Energy Minister Kanchana Wijesekera yesterday said, “From the 1 August only the QR system fuel quota will be in place, while the last digit of the number plate system and other allocations will be invalid."
The Daily FT is Sri Lanka’s first and only national daily business paper. With its value proposition “Be Empowered”, the Daily FT caters to the new economy of post-war Sri Lanka, with a sectoral focus as well as local and global politics, business, social issues, sports and lifestyle.
Sri Lanka’s National Fuel Pass registration process has been changed to facilitate
businesses with multiple vehicles to register all their vehicles with under their business registration number, Minister of Power and Energy Kanchana Wijesekera has said.
The portal had been upgraded after a raft of complaints received during the trial period and thus the system has now changed to cater for the owners with multiple vehicles using their business registration number.
Earlier, only one vehicle was allowed to be registered under one business registration number.
The minister also said that steps are being taken to supply fuel for machinery.
“Fuel requirements for machinery must be registered with the respective Divisional Secretariats with the weekly fuel requirements,” he tweeted.
Sri Lanka started the online registration to implement fuel rationing through the National Fuel Pass as the country is unable to cater for the demand due to forex shortages after two years of money printing and continued monetary accommodation for state salaries.
Under the rationing system, each vehicle will be allocated a weekly quota of fuel.
As of 4 pm on Thursday (28), around 70% of the fuel stations islandwide have tested the QR code under the national fuel pass in a week and 464 Stations have used the facility on July 29 for 122,469 transactions, the minister said.
“4.4 Million users registered. The program will go National on the 1st of August. the National Fuel Pass QR facility since the 21st of July. 464 Stations have used the facility today for 122,469 transactions. 4.4 Million users registered. The program will go National on the 1st of August,” the minister said.
Cabinet Spokesperson Bandula Gunawardena early this week said Sri Lanka’s fuel bill for 2022 is estimated at 6.7 billion US dollars, up from 2.7 billion US dollars in 2015. (Colombo/July28/2022)
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yes, the same SDGs that wiped out Sri Lanka - the same goals that allowed the WEF to plant another operative into that country & then offer them fuel/food rations by way of digital ID/vaccine pass - the same goals in countries around the world 🌎 https://t.co/jgyjopEhLx
I might say - Focus on ESG led to Sri Lanka's downfall.
"The PM's organic decision was widely praised by environmentalists. Sri Lanka scored 98 out of 100 on the “ESG” – environmental, social and governance – criteria for investment."
ESG killed Sri Lanka, it’s designed to kill the rest of us. New U.K. PM will be completely behind it. No matter who it is. Button up, people are going to die.
— Jim Forrest 🥲🎱 power supersedes truth. (@JimForr30265037) July 28, 2022
in 2015, the PM of Sri Lanka, said it would be one of the richest nations if it implemented the WEF's ESG policy... 2022...Sri Lanka, is now a failed State...
It’s working. Co-opt the government, ruin the people, incite them to run out the gov’t you’ve co-opted, install one of your own…next country…like dominoes…like the WEF playbook. Meet the opposition, the new PM of Sri Lanka. pic.twitter.com/SzfFqNzYYE
#SriLanka’s opposition leader Sajith Premadasa, said that Sri Lanka should follow constitutional, democratic, judicial & administrative procedures to elect the new leader.
Another reason to question the World Economic Forum’s motives. They recently deleted an article regarding Sri Lanka in the face of the economic collapse there. However the internet saves everything. https://t.co/g5NzFCs0Dy
THE powers of the World Economic Forum have come under scrutiny on Wednesday, July 13, after eager internet users spotted the WEF had deleted an article from Sri Lanka’s Prime Minister Ranil Wickremesinghe.
The article deleted on the WEF website is called – Sri Lanka PM: This is how I will make my country rich again by 2025 – and was searched for by people following the collapse of the country’s economy, which resulted in HUGE riots and the Sri Lankan President Gotabaya Rajapaksa fleeing to the Maldives.
In the article, published on August 29, 2018, Wickremesinghe said that the country’s “economic policy, Vision 2025, is firmly embedded in several principles, including a social market economy that delivers economic dividends to all.”
He added: “In the first place, we need to ensure we have a skill pool that matches the job market’s demands.
“Sri Lanka’s education system is being transformed through progressive and important policy reform: the minimum length of schooling has been increased to 13 years, while better education is being brought to rural areas through the Nearest School Is the Best School programme, and Sri Lanka is investing in more teachers and better training.
“Also, opportunities for vocational training in selected areas during school education will be introduced. Further, we have taken action to empower new and innovative ideas by strengthening the intellectual property regime in Sri Lanka.
“The plan for an ‘Empowered Sri Lanka’ identifies the priorities of raising incomes, ensuring employment and housing for all, and improving the quality of life for all citizens.”
The World Economic Forum is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland.
Since the article was sent to the Wayback Machine, many social media users have questioned the WEF’s involvement in the country’s affairs and whether they hold too much power in world affairs.
One user on Twitter said: “Strangely enough, the WEF have now removed this article from their website. I can’t imagine why.
“Remember, always listen to the WEF. They really know what they are talking about…… No, honestly, they’re ‘experts.'”
Strangely enough, the WEF have now removed this article from their website. I can't imagine why.
I love to travel and get away from it all whether it's 1st class, 2nd class or 3rd class makes no difference to me. I simply love to visit new places and meet new people. I really enjoy extreme sports. I started blogging 17 years ago and love to be able to express and share thoughts with others.
Most recently a Mortgage Professional prior to implosion. Earned a living in my previous career as an Institutional Equity Trader (sell side). I have a bachelor's degree in finance with special emphasis in economics.
❤ May my heart be kind, my mind fierce and my spirit brave. ❤
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