Sri Lanka approves law to liberalize petroleum imports
FILE PHOTO: People wait in a queue to buy petrol at a closed fuel station, amid the country's economic crisis in Colombo, Sri Lanka, May 16, 2022. REUTERS/Adnan Abidi
COLOMBO : Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades.
The island of 22 million people is caught in the throes of a severe foreign exchange shortage that has left it struggling to import sufficient essentials including medicine, fertilizer and food.
Source: Reuters
