Sign In
Learn bits
World Affairs
Pradeep Kumar

01/09/21 11:35 AM IST

Sri Lanka declares food emergency

In news

Sri Lanka  declared a state of emergency over food shortages as private banks ran out of foreign exchange to finance imports.

Details
  • The move followed sharp price rises for sugar, rice, onions and potatoes, while long queues have formed outside stores because of shortages of milk powder, kerosene oil and cooking gas.
  • The government has increased penalties for food hoarding, but the shortages come as the country of 21 million battles a fierce coronavirus wave that is claiming more than 200 lives a day.
  • The economy shrank by a record 3.6 percent in 2020 because of the pandemic and in March last year the government banned imports of vehicles and other items, including edible oils and turmeric, an essential spice in local cooking, in a bid to save foreign exchange.
  • Importers still say they have been unable to source dollars to pay for the food and medicines they are allowed to buy.
Steps taken by Sri- Lankan Government
  • The government has appointed a former army general as commissioner of essential services, who will have the power to seize food stocks held by traders and retailers and regulate their prices.
  • The authorised officers will be able to take steps to provide essential food items at concessionary rate to the public by purchasing stocks of essential food items including paddy, rice and sugar.
  • These items will be provided at government guaranteed prices or based on the customs value on imported goods to prevent market irregularities.
Source: Aljazeera

More Related Current Affairs View All

20 Feb

The Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999

'Investors who were defrauded in the Torres Ponzi scam may receive about Rs 40 crore over the next six months.' The Mumbai Police’s Economic Offences Wing (EOW) has begun

Read More

18 Feb

Aravali safari park project

'The Haryana government’s ambitious 3,858 hectare Aravali safari park project spread across Gurugram and Nuh — which was one of the poll promises of the ruling Bharatiy

Read More

17 Feb

President’s rule function

'Recently,  four days after Manipur Chief Minister N. Biren Singh’s resignation, the Union government announced that President’s rule has been implemented in the v

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps