New Delhi: External affairs minister Salman Khurshid won’t have comforting words for Maldives on fuels supplies as Mangalore Refinery & Petrochemicals Ltd (MRPL) has refused to supply transport fuels on extra concessional terms to the islands nation on the brink of bankruptcy.
MRPL managing director PP Upadhya told the petroleum ministry last month that the firm was “not in a position” to consider Maldives request for products supply. “We cannot accept open credit, knowing very well the financial health of Maldives,” wrote Upadhya.
MRPL’s decision followed a caution from the ministry of external affairs on January 24 that financial situation in Maldives was “precarious” as the country had only about $250-$300 million as foreign exchange reserves.
21/02/14 Amitav Ranjan/Indian Express
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MRPL managing director PP Upadhya told the petroleum ministry last month that the firm was “not in a position” to consider Maldives request for products supply. “We cannot accept open credit, knowing very well the financial health of Maldives,” wrote Upadhya.
MRPL’s decision followed a caution from the ministry of external affairs on January 24 that financial situation in Maldives was “precarious” as the country had only about $250-$300 million as foreign exchange reserves.
21/02/14 Amitav Ranjan/Indian Express
