“Who has no light, Trust in the Name of the LORD”
[Mar.07.2022] Power and oil supply in Sri Lanka has been in crisis from worsened economic difficulties, resulting in a rotational power cut for seven and a half hours a day though it is expected to normalize soon.
“There will be no power cuts from March 5,” President Gotabaya Rajapaksa said in a statement on the 2nd (local time) according to foreign and local media including Reuters.
He added, “The distribution of fuel to all fuel stations across the country will be normalized from tomorrow.” However, the statement did not spell out the details of how the country secured fuel supplies to keep the power on.
Sri Lanka is currently facing its worst electricity shortage as it is unable to purchase oil due to the current economic crisis. Sri Lanka currently needs about $500 million a month to source diesel and gasoline, but the foreign currency of the government is almost depleted.
Some thermal power plants were shut down due to lack of fuel, and hydroelectric power plants also could not operate normally due to drought, resulting in a significant decrease in power supply.
The Sri Lankan government has extended national wide daily rotational power cuts from five-hour to seven-and-a-half-hour. According to news agency AFP, it is the longest power cut announced in Sri Lanka in 26 years since 1996.
Sri Lanka’s economy, which relied heavily on the tourism industry, has been hit hard by the new coronavirus infection (Covid-19) following the ‘Easter terror’ in April 2019.
The local economy was already at risk due to the debt caused by the One Belt, One Road project with China (land and sea silk road connecting China, Central Asia, and Europe), and the situation got worse on top of it.
In this regard, major credit rating agencies such as Fitch have downgraded Sri Lanka’s national credit rating one after another since the end of last year.
Fitch warned that “the risk of ‘national default’ is growing as Sri Lanka has failed to repay its $26 billion in foreign debt.”
Meanwhile, according to a local missionary, the situation in the local area has not changed even after the current president’s statement, and the power cut that was for 7.5 hours a day is expected to increase to 10 hours.
In order to accumulate personal wealth, the president shortened the contact period for the operation of the power plant and tried to earn a profit from the down payment every time it was renewed, which caused this crisis.
While the weather is getting hotter, the refrigerators have stopped operating and it is not easy to refuel cars, causing great inconvenience to local people.(Source: Yeonhap news, Prayer 24·365 edited).
Who among you fears the LORD and obeys the word of his servant? Let the one who walks in the dark, who has no light, trust in the name of the LORD and rely on their God. (Isaiah 50:10)
Dear God, please have mercy on Sri Lanka, which is having difficulties in supplying fuel and power due to the worst economic crisis. Please deliver the country from the crisis. May You give the fear of God to the President who does not cease to be greedy despite the country being on the verge of national bankruptcy and the hardships of the people. Pray that he would run the country in fear of the Lord. May You grant light again to this land when souls who walk in the dark trust in the LORD. So that Sri Lanka will testify of the LORD’s help.
Prayer 24·365
prayer@prayer24365.org
