News
USD 500 mn credit line to procure petroleum products: Govt. wants India to double facility
‘Protests will ruin efforts to attract tourists’
By Shamindra Ferdinando
Sri Lanka is trying to have the USD 500 mn Indian Credit Line for fuel increased to USD 1 bn. Janaka Ratnayaka, Chairman of the five-member Public Utilities Commission of Sri Lanka (PUCSL) yesterday told The Island that Sri Lanka was seeking to have the Indian credit line doubled in line with overall efforts to tackle the worsening crises.
Emphasising the importance of doubling the Indian credit line, Ratnayake revealed that another combination of 200 MT of fuel would be delivered within a short period, also under USD 500 million credit line.
Declaring that funds had been made available for what he called anchored diesel shipment, Ratnayake said that sufficient stocks were now available to provide uninterrupted electricity supply for Sinhala and Tamil New Year on 13, 14 and Good Friday (April 15) as well.
Since the finalisation of the USD 500 mn credit line on Feb 02, 2022, for the purchase of petroleum products, India has delivered four shipments on 16, 20, and 23 March, and 02 April.
Eldos Mathew Punnoose, Head – Press, Information and Development Cooperation – since the operation began, 200,000 mt of fuel had been delivered, including a consignment of 40,000 MT by Indian Oil Corporation, outside the line of credit facility, in February 2022.
Treasury Secretary S.R. Attygalle, who signed for the USD 500 mn credit line on behalf of Sri Lanka, recently resigned after Basil Rajapaksa had lost the finance portfolio. Sri Lanka reached agreement with the Export and Import Bank of India in this regard.
Punnoose said in addition to the USD 500 mn credit line in response to a separate and urgent request from Sri Lanka, New Delhi had swiftly finalised a credit facility of USD 1 billion for the supply of essential items, including food and medicines. The first shipments of rice, under this facility, would be here soon, the official said.
Earlier in January this year, India provided financial assistance to Sri Lanka that included a credit swap of US$ 400 million and deferment of an Asian Clearing Union payment of over USD 515 million. In cumulative terms, Indian support to the people of Sri Lanka, in the first quarter of 2022, is in excess of US$ 2.5 billion, the Indian spokesperson here said.
Referring to travel advisories issued by several countries, PUCSL Chairman Ratnayake emphasised that large scale protests would have a catastrophic impact on efforts to attract tourists. Pointing out those violent incidents outside President Gotabaya Rajapaksa’s private residence at Pangiriwatte Road, Mirihana, on March 31, and continuing countrywide protests, including the ongoing campaign opposite the Presidential Secretariat, would undermine efforts to stabilise the situation.
Ratnayake said that the delay on the part of all those concerned at every level to take tangible measures to address issues at hand could increase pressure on the national economy. Responding to queries, Ratnayake said that early stabilisation of the national economy couldn’t be achieved if protests undermined political stability.
Latest News
INS Udaygiri departs Colombo concluding formal visit
The Indian Naval Ship (INS) Udaygiri departed the Port of Colombo today, 11 September 2026, following the successful completion of a four day official visit.
On her departure, the Sri Lanka Navy bade farewell to the ship in accordance with time-honoured naval traditions.
During the visit, naval personnel from both navies engaged in joint initiatives to strengthen bilateral ties. These included a friendly volleyball match, a beach cleanup along the Galle Face
promenade, and a training exercise on Visit, Board, Search, and Seizure (VBSS) conducted by the Sri Lanka Navy Special Boat Squadron (SBS).
As part of the visit, the Indian Navy handed over a consignment of spares and supplies to the Sri Lanka Navy. Visiting crew members also toured key tourist attractions in and around Colombo.
Official interactions of this nature aim to enhance cooperation and knowledge-sharing between the two maritime forces, supporting joint responses to evolving regional maritime challenges.
News
President meets representatives from Sri Lanka Scout Association
A meeting between President Anura Kumara Dissanayake and representatives of the Sri Lanka Scout Association was held at the Presidential Secretariat on Thursday (10) afternoon .
The President was briefed on the 11th National Scout Jamboree, scheduled to be held in Sri Lanka in January 2027, as well as the current status and progress of its organisational arrangements.
The official logo of the National Scout Jamboree was also presented to the President and officially unveiled on the occasion.
Views were also exchanged on the programmes currently being implemented by the Sri Lanka Scout Association and its future plans.
President Anura Kumara Dissanayake emphasised the importance of expanding the Scout Movement to more schools and the contribution that the Scout Movement can make to the Government’s programmes to combat drugs.
President’s Senior Additional Secretary Roshan Gamage; Chief Scout Commissioner, Attorney-at-Law Manoj Nanayakkara; President of the Sri Lanka Scout Association Ransiri Perera; Deputy Chief Scout Commissioner (Acting) Kapila Perera; Chairman of the Executive Committee Kamalnath Jinadasa; and Jamboree Co-Organising Commissioner, Engineer Amil Abeysundara, were among the senior representatives of the Sri Lanka Scout Association who attended the occasion.
[President’s Media Division]
News
Meeting between Catholic religious leaders and President
A meeting between President Anura Kumara Dissanayake and Catholic religious leaders, led by His Eminence Malcolm Cardinal Ranjith, Archbishop of Colombo, was held at the Presidential Secretariat on Thursday (10).
Special attention was given to the Government’s programme to strengthen coexistence, peace and reconciliation among all communities in the country and to ensure national unity by preventing any form of racist or religiously motivated hate activity.
The progress of investigations into the Easter Sunday attacks was also discussed.
Lengthy discussions were held on measures that could be taken to prevent environmental damage and destruction affecting the lives of the people.
The Catholic religious leaders commended the measures taken by the Government to safeguard trust among all communities and expressed their fullest support for these efforts.
The issues faced by Catholic communities, including infrastructure development in areas where Catholic people reside, as well as measures that should be taken to address these issues, were also discussed at length.
Rev. Fr. Cyril Gamini, Rev. Fr. Julian Patrick and other priests, as well as Deputy Minister of Religious and Cultural Affairs Muneer Mulaffer, President’s Senior Additional Secretary Roshan Gamage and others, were also present at the meeting.
President’s Media Division (PMD)
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