India working on urgent economic package for SL

India is working out a package on an urgent basis to assist Sri Lanka, following finance minister Basil Rajapaksa's New Delhi visit, Economic Times reports.

India is expected to extend a food and health security package to Sri Lanka on an urgent basis, along with an energy security package and currency swap, and also push Indian investments.

It was agreed during Rajapaksa's visit that the procedures to realise these objectives would be finalised early, within a mutually agreed time.

The food and health security package would envisage the extension of a line of credit to cover the import of food, medicines and other essential items from India.

The energy package would also comprise a line of credit to cover import of fuel from India, and an early modernisation of Trincomalee oil tank farm.

There is also an offer of a currency swap to help Sri Lanka address its current balance of payment issues.