June 17, 2015 (LBO) – Sri Lanka’s Hambantota port should be transformed to a level of making profits as in the case of the Colombo Port, Ports and Aviation Minister Arjuna Ranatunga said.
“We must make Hambantota a viable port and get it on the right track and develop it. This is the issue that is facing the Chairman and the directors,” Ranatunga said.
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“The unfortunate thing is that at the moment we have to pump the money earned from Colombo port to the Hambantota port,”
“Whatever that has happened in the past we need to learn from it and get it right.”
However, Ranatunga says the port is receiving a lot of interest from investors.
“So we are getting a lot of investors who want to come and invest in Hambantota port,”
The Minister was speaking at a press conference held to announce the forthcoming “Colombo International Maritime Conference 2015” which is to be held from 24 to 26 September 2015.
Operating profits at Sri Lanka Ports Authority fell 53.
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4 percent to 2.4 billion rupees in 2013 with revenues also down 2.3 percent to 37.2 billion rupees, despite an increase in container volumes in Colombo, official data showed.
Sri Lanka’s Hambantota port needs to be made viable: Minister
The Central Bank Governor and Finance Minister need to quit playing games with the Sri Lankan public, and DISCLOSE their 1st Quarter (Jan-Mar) GDP performance which is long overdue! It is now the middle of JUNE, and if 1st Quarter GDP is a fantastic number, it would have been disclosed by now. The fact that Sri Lanka is not reporting their economic performance when ALL other countries have reported their 1st Quarter GDP, strongly suggests that the UNP are trying to hide their poor management of the Sri Lankan economy for their first three months in office.
Anyone can TALK, but the numbers don’t lie! Shutting sown all the Chinese-funded construction like the UNP has done has negative consequences on the economy, and the public has a right to know this before we have any more elections.
Building of this port at a unjustified inflated cost as it has now earned a negative publicity. However ports are important to growing trade. However it is unfortunate that the port of Tricomalee should have been given prior attention and developed as it one one of the worlds best natural deep see areas. Hambantota could have been done to a sensible degree or more so Galle port could have been a good choice.