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Thursday September 29th, 2022

Sri Lanka power regulator wants early school closure

ECONOMYNEXT – Sri Lanka’s power regulator has recommended early closure of schools for April holidays amid extended power cuts, while diesel shortages were also hitting transport.

“PUCSL recommends Ministry of Education to declare early holidays from Monday 04th April for school children as they face many inconveniences due to lengthy power cuts,” PUCSL Chairman Janaka Ratnayake said in a statement.

The request comes as private bus owners and school van operators threatened to stop services if diesel shortages continue.

The closure of schools would reduce the demand for power and also fuel.

Most schools are scheduled to be closed on April 8 and to re-open on April 18. Some schools have closed for Ramazan holidays on Friday (01).

Sri Lanka is facing a severe forex crisis and high inflation after two years of money printing.

Sri Lanka is facing a severe forex crisis after two years of money printing by an intermediate regime central bank which practices ‘flexible policy’.

There are increasing calls to curtail the discretion of its Monetary Board, to print money and manipulate interest rates through open market operations and set up a currency board.

The central bank is not able to maintain a pegged exchange rate due to too low interest rates and it was also not been able to established a floating exchange rate so far.

Sri Lanka is facing shortages of fuel, cooking gas and some imported foods such as milk as well as medicines and paper. (Colombo/April 2/2022)

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