Sri Lanka crisis: Turmeric selling for Rs 3,853; bread for Rs 3,583 per kg

Sri Lanka is facing the worst economic crisis in decades. This has led to mass demonstrations and public outrage, calling for the government's resignation. Meanwhile, Sri Lankan Prime Minister Mahinda Rajapaksa has appealed to protesters to end the weeks of mass demonstrations.

People are out on the streets with flags, banners and posters in their hands due to massive shortage of petrol-diesel to foods products and other essentials like medicines. The price of petrol in Sri Lanka has increased by 85% in one year. Diesel has become costlier by 69%. There is a jump of 84% in the price of LPG cylinder.

(Image Source: Reuters)

While speaking with a leading Indian newspaper, former Prime Minister Ranil Wickremesinghe asserted that President Gotabaya Rajapaksa must resign or explain to the people why he won't. He also said that Sri Lanka must tap its friends in South Asia - India, Pakistan and Bangladesh, to borrow foodgrains that could be returned after two or three years.

Read | Sri Lanka Medical Association warns of 'catastrophic' deaths due to drugs and equipment shortage

The current price of one kg of turmeric in Sri Lanka is Rs 3853, which is a jump of 443%. One kg of bread is available for Rs 3583. Its price has also increased by 443%. The price of rice has increased by 93%, while that of masoor dal has increased by 117%. 

The minimum price of a kilo of rice in the general market has now exceeded Rs 200 to Rs 240. The government has been forced to restrict the import of several essential commodities - including food items which has pushed the price of essentials such as milk powder and rice much higher.

(Image Source: Reuters)

Amid a huge shortage of fuel in Sri Lanka, India is playing a big role in resolving it. India recently transported 40 thousand metric tons of diesel and 36 thousand metric tons of petrol to Sri Lanka as a credit line. To deal with the crisis the government is trying to negotiate with the International Monetary Fund (IMF) to get a bailout package.

Meanwhile, preparations are being made to bring a no-confidence motion against the government. Sri Lanka's main opposition party SJB has announced to bring a no-confidence motion against the government. According to reports, SJB has also started taking signatures from MPs for this.