S Jaishankar visits Sri Lanka IOC, takes stock of fuel supply situation

External Affairs Minister Dr S Jaishankar on Monday visited Sri Lanka IOC, the local subsidiary of India’s oil major, Indian Oil Corporation and took stock of the island nation’s fuel supply situation amid India’s support during its severe economic crisis.

Taking to Twitter, Jaishankar, wrote “Visited Lanka IOC in downtown Colombo. MD Manoj Gupta briefed me on the fuel supply situation. Indian LoC of US$ 500 million is helping Sri Lankan people in their everyday life.”

Jaishankar arrived in Colombo for a bilateral visit on Sunday. He met Sri Lankan Finance Minister Basil Rajapaksa on Monday and held a discussion over the economic situation of Colombo as well as India’s supportive response.
“Began the visit by meeting Finance Minister @RealBRajapaksa (Basil Rajapaksa). Discussed the economic situation and India’s supportive response. We will continue to be guided by Neighbourhood First,” Jaishankar said in a Tweet.

The island nation is witnessing a severe economic and energy crisis triggered due to the shortage of foreign exchange.

The International Monetary Fund (IMF) on Friday recommended a number of measures for macroeconomic stability in Sri Lanka and also to mitigate adverse impacts on the vulnerable and the poor.

The IMF noted that the country faces mounting challenges, including public debt that has risen to unsustainable levels, low foreign currency reserves, and persistently large financing needs in the coming years. Four Sri Lankan ministers received Indian External Affairs Minister at the airport on Sunday evening.

The ministers, Gamini Lokuge, Minister of Energy, Johnston Fernando, Minister of Highways, Prasanna Ranatunga, Ministry of Tourism and, D V Chanaka, State Minister of Aviation and Export Zones Development, received Jaishankar at the airport. Jaishankar will be in Sri Lanka from March 28 to 30. (ANI)