President Moves to Safeguard Economy Amid Global Energy Volatility 📈

President Anura Kumara Dissanayake has announced emergency measures to insulate export and tourism sectors from fuel shipment delays caused by Middle East tensions. The government is prioritizing the uninterrupted functioning of the economy through targeted private sector involvement. • Energy Intervention: 30 private firms received temporary licenses to import fuel using their own foreign currency. Sales will be conducted in US dollars specifically for dollar-earning industries to bypass the national fuel crunch. • Fuel & Coal Status: Two 90,000-ton crude oil shipments are delayed due to global shipping disruptions. However, 13 of 23 planned coal vessels have arrived, with an urgent tender for 5 additional ships approved to prevent power cuts. • LP Gas & Commodities: Supply is stable as 38,000 tons arrived this month, exceeding the 33,000-ton demand. Wheat and pulses stocks are secured for three months, and fertiliser supplies are confirmed sufficient for the Yala season. • Fiscal Context: The Treasury has absorbed the Ceylon Petroleum Corporation (CPC) debt of LKR 884 Bn, carrying an annual interest cost of LKR 100 Bn. Fuel pricing remains under review to balance CPC profitability with domestic economic activity. • Distribution: A QR code system has been deployed for fuel, with nearly 5 million registrations. Essential sectors like health, fisheries, and agriculture have been granted managed buffer stocks to ensure food security.