An Echelon Media Company
Monday September 25th, 2023

Contentious Sri Lanka shipping reforms under spotlight at forum

ECONOMYNEXT – Sri Lankan government plans to liberalise shipping by removing foreign ownership controls will be discussed at a forum of key public and private sector stakeholders tomorrow.

The Public-Private Dialogue is organized to provide a platform for all stakeholders, including the private sector, to share their views and concerns, a statement by the International Trade Centre (ITC), which is hosting the forum, said.

It aims to “overcome impediments to transparency and accommodate greater inclusion of stakeholders in decision-making in maritime, logistics and transport reform,

“The PPD will deliberate upon the potential impact of liberalisation in the shipping and logistics sector and bring in more visibility and transparency to the interested parties of the government agenda.”

Consultations that took place as part of the National Export Strategy highlight that only limited interactions between stakeholders take place, the ITC said. “As a result, greater coordination needs to be facilitated between stakeholders to ensure that the needs of the logistics sector are met.”

The forum to discuss reforms of the maritime, logistics and transport sector is being organised by the International Trade Centre (ITC) and Ministry of Finance within the framework of the EU-Sri Lanka Trade-Related Assistance Project funded by the European Union.

Speaking ahead of the event, Ambassador of the European Union to Sri Lanka and the Maldives, HTung-Lai Margue said, “Sri Lanka is well-positioned to become a regional hub, and this event will help to identify the reforms required for Sri Lanka to achieve this goal, also for trade in Europe”.

Minister of Finance and Mass Media Hon. Mangala Samaraweera said, “Sri Lanka is on the cusp of a major developmental drive that will establish its position as a vital trade hub in the  Indian Ocean region. The reform of the logistics sector as a key driver is highly instrumental for this”.

Samaraweera has said the government will press ahead with liberalizing the shipping industry, a move opposed by a domestic shipping agency cartel and freight forwarders.
(COLOMBO, 01 October, 2018)



Leave a Comment

Your email address will not be published. Required fields are marked *

Leave a Comment

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

Sri Lanka sells 2028 bonds at 14.52-pct

ECONOMYNEXT – Sri Lanka sold all offered bonds in 2026 and 2028 maturities raising 220 billion rupees from an auction Monday, data from the state debt office showed.

The debt office sold 135 billion rupees of 1 June 2026 bonds to yield 15.64 percent.

Another 85 billion rupees in 01 July 2028 bonds were sold to yield 14.52 percent.

The 2028 bond is offered on tap at the weighted average yield. (Colombo/Sept25/2023)

Continue Reading

Sri Lanka’s stocks end down on Monday after slow day of trading

ECONOMYNEXT – Sri Lanka shares were down at close of trading on Monday.

Turnover was 550 million rupees.

The main All Share Price Index was down 0.36 percent or 40.02 points to 11,216.50, while the S&P SL20 was down 0.44 percent or 14.07 points to 3,164.52.

Trading in the Capital Goods Industry (174,037,134) drove turnover.

Commercial Bank, Expolanka Holdings, and Aitken Spence plc saw losses, while National Development Bank, John Keells Holdings and Melstacorp saw gains in the day’s trading.

The market saw a net foreign inflow of 13 million rupees, while the yearly net foreign inflow was 429 million rupees. (Colombo/Sep25/2023)

Continue Reading

Sri Lanka rupee closes at 324.75/324.90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 324.75/90 to the US dollar on Monday, from Friday’s close at 324.70/325.00 dealers said.

Bond yields were up.

A bond maturing on 01.07.2025 closed up at 15.55/15.70 percent on Monday, after closing at 14.95/15.30 percent on Friday.

A bond maturing on 01.08.2026 closed up at 15.50/15.65 percent up from 14.95/15.10 percent.

A bond maturing on 15.09.2027 closed up at 14.75/15.50 percent from 14.55/15.00 percent.

A bond maturing on 01.05.2028 closed up at 14.25/14.60 from 14.00/14.30 percent.

A bond maturing on 15.05.2030 closed stable at 13.00/13.50.

A bond maturing on 01.07.2032 closed at 12.95/13.45 percent from 13.00/13.45 percent. (Colombo/Sept25/2023)

Continue Reading