Sri Lanka in Deep Financial Crisis...Shocking Milk Price...!?

Protests have erupted in Colombo against Rajapakse. Tens of thousands of people have taken to the streets demanding Rajapakse's immediate resignation. The Sri Lankan government is in a deep economic crisis. The Sri Lankan government is unable to import crude oil due to a lack of foreign exchange reserves. As a result, petrol and diesel prices have skyrocketed across the country. As a result, Sri Lanka's largest giants such as Litro Gas and Lox Gas have been shut down. Meanwhile, Sri Lankan Finance minister Basil Rajapaksa arrived in delhi yesterday. He met prime minister Modi at the parliament premises. Basil Rajapaksa thanked the prime minister for the financial assistance provided by india to sri lanka and called for the forthcoming PIMSTEC Conference to be held in sri lanka on the 30th. Following this, Basil Rajapaksa met with Foreign Secretary Harshavardhan Shringla and various officials.
So far this year, india has provided $ 1.40 billion in assistance to Sri Lanka. In sri lanka, with rising fuel, food, and essential commodities prices, many hours of daily power cuts are gripping the country. The government has devalued the Sri Lankan rupee by 36 percent to cope with the financial crisis. Thus the prices of common groceries and commodities have risen up.
There is a level not seen even during the war. The price of rice is 448 Sri Lankan rupees per kg (128 indian rupees). The price of daily drinking milk is Rs. 263 per litre (Rs. 75 indian Rupees). Essentials have also reached heights beyond the reach of the people. For example, Pepper touches Rs.900 per kg. The prices of milk, wheat flour, sugar, and pulses are skyrocketing.
Petrol is priced at Rs 283 a liter and diesel at Rs 176 a liter. Due to this many vehicles have been sidelined on the road. bus owners' associations have warned of an increase in bus fares. Many restaurants and bakeries are closing due to a shortage of cooking gas. For this reason, its owners' association has announced the closure of restaurants today.
In this situation, people are engaged in a struggle against the President condemning the increase in prices. A protest is taking place in the Sri Lankan capital Colombo demanding the immediate resignation of Sri Lankan President Gotabhaya Rajapaksa.

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sri lanka in financial crisis

Sowmiya Sriram

17/03/2022 11:15 AM