Lankan newspapers run out of newsprint due to forex crisis; suspend publication
Colombo(PTI): Sri Lanka's two major newspapers on Saturday suspended their publication over newsprint shortage and price escalation caused by the country's all-time worst foreign exchange crisis.
The Island, an English daily along with its sister Sinhala paper Divayina, ceased to print as the newsprint scarcities and price escalations hit the media organisation.
We regret to inform our readers that we have been compelled to suspend the publication of The Island print edition on Saturday until further notice in view of the newsprint shortage, Upali Newspapers Limited said in a statement.
Sri Lanka is facing its all-time worst foreign exchange crisis after the pandemic hit the nation's earnings from tourism and remittances.
The import costs of newsprint also rose remarkably since the government's decision early this month to float the Sri Lankan rupee against the US dollar.
The Island newspaper, which has been in print since October 1981, will now function as an e-paper.
Sri Lanka is facing an acute economic and energy crisis triggered due to shortage of foreign exchange. A sudden rise in prices of key commodities and fuel shortage forced tens of thousands of people to queue for hours outside petrol filling stations. People are also facing long hours of power cuts daily.
All essentials are in short supply due to import restrictions forced by the forex crisis.
As part of its measures to tackle the crisis, the Sri Lankan government has sought India's assistance. After months of resistance, the government is preparing to approach the International Monetary Fund (IMF) for an economic bailout.
In a related development, the Indian Oil Corporation's local entity LIOC effected another price hike of petrol with effect from midnight Friday. This was the LIOC's fourth price hike since February.
India recently announced to extend a USD 1 billion line of credit to Sri Lanka as part of its financial assistance to help the country deal with the economic crisis. New Delhi had extended a USD 500 million line of credit to Colombo in February to help it purchase petroleum products.
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If INDIA bloc comes to power after June 4, I will be back next day: Kejriwal to AAP councillors
New Delhi (PTI): Delhi Chief Minister Arvind Kejriwal on Monday said he will be back from Tihar jail on June 5 if the INDIA bloc comes to power after the election results are announced.
Arrested in a money laundering case linked to the alleged Delhi excise policy scam, Kejriwal has been granted interim bail by the Supreme Court till June 1 to campaign in the Lok Sabha elections. He will have to surrender and go back to jail on June 2.
June 1 is the last day of the seven-phase elections and the votes will be counted on June 4.
Addressing his Aam Aadmi Party councillors, Kejriwal alleged that efforts were made to break and humiliate him during judicial custody in Tihar.
"There were two CCTV cameras inside my cell in Tihar and the feed was monitored by 13 officers. It was said that the CCTV feed was also provided to PMO. Modi ji was monitoring me... I do not know what grudge Modi has against me," he claimed.
Kejriwal said the AAP leaders are respected and loved by people and "feared by the BJP because of our work".
"I have to go back to jail on June 2. I will be watching the election results inside jail on June 4. If the INDIA bloc comes to power, I will be back on June 5," he told party councillors.
On Sunday, he met party MLAs and praised them for not breaking down despite the BJP's efforts after his arrest. Kejriwal said AAP "became more united instead of breaking apart" after his arrest.
