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Sri Lanka in reform drive for logistics hub in budget: Finance Minister

ECONOMYNEXT – Sri Lankan Finance Minister Ravi Karunanayake said he plans to introduce key reforms in tomorrow’s government budget that will make it easier and cheaper for logistics and shipping companies to do business in the island.

"The budget will ensure logistics are going to be given real pride of place," he told the annual conference of the Chartered Institute of Logistics and Transport Sri Lanka.

"International freight forwarding companies will find the ownership and legal problems they faced will be completely removed from tomorrow.

"We will ensure the best talent is brought in here," he said. !We will use their capital with our knowledge. We Sri Lankan have the best of knowledge (in shipping and logistics)."

He said Sri Lankan logistics business had done well so far but more companies need to be attracted to expand the business.

"We need that critical mass. We will ensure that that marriage takes place."

Karunanayake said the government will ensure shipping lines will find costs in Sri Lanka are going to be competitive.

He said the government will ensure Sri Lanka is a place for hub and spoke logistics operations, both sea and air.

Clearance of shipments will be expedited with time targets given.

"Shipment will be cleared in five days," Karunanayake said. "If not you can appeal – whatever the problem is, in 10 days it will be done."





The Mattala airport in the south will also have "attractive handling charges" to lure business from elsewhere. (Colombo/Nov 19 2015)


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